Ilmarinen Mutual Pension Insurance Co Lowers Stock Holdings in Paycom Software, Inc. $PAYC

Key Points

• Ilmarinen Mutual Pension Insurance Co has significantly reduced its stake in Paycom Software, cutting its holdings by 73.8% to 8,500 shares, now valued at approximately $1.86 million.
• In the most recent quarter, several institutional investors increased their positions in Paycom Software, with Baillie Gifford & Co growing its stake by an astonishing 1,918.4%.
• Paycom Software reported $2.06 earnings per share for the quarter, exceeding estimates, with a 10.5% year-over-year revenue growth to $483.6 million.

Ilmarinen Mutual Pension Insurance Co reduced its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 73.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,500 shares of the software maker's stock after selling 24,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Paycom Software were worth $1,857,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PAYC. Sylebra Capital LLC lifted its position in Paycom Software by 63.8% in the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock worth $658,996,000 after buying an additional 1,252,617 shares during the last quarter. Baillie Gifford & Co. grew its position in Paycom Software by 1,918.4% during the first quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker's stock valued at $346,180,000 after acquiring an additional 1,505,990 shares during the last quarter. Invesco Ltd. raised its stake in shares of Paycom Software by 5.0% during the first quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker's stock worth $269,398,000 after acquiring an additional 58,176 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Paycom Software by 2.3% in the 1st quarter. Northern Trust Corp now owns 740,385 shares of the software maker's stock worth $161,759,000 after acquiring an additional 16,369 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Paycom Software by 12.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 633,626 shares of the software maker's stock valued at $138,435,000 after purchasing an additional 69,884 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Price Performance

NYSE PAYC opened at $221.16 on Thursday. Paycom Software, Inc. has a 1 year low of $158.03 and a 1 year high of $267.76. The stock has a market capitalization of $12.80 billion, a PE ratio of 29.93, a PEG ratio of 2.44 and a beta of 0.81. The business's 50-day moving average is $227.39 and its 200 day moving average is $229.48.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.28. The business had revenue of $483.60 million during the quarter, compared to analysts' expectations of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The business's revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $1.62 EPS. As a group, equities research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, August 25th. Paycom Software's payout ratio is presently 20.30%.

Analysts Set New Price Targets

A number of brokerages recently commented on PAYC. JPMorgan Chase & Co. lifted their target price on shares of Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Cantor Fitzgerald assumed coverage on Paycom Software in a report on Thursday, August 14th. They issued a "neutral" rating and a $230.00 price objective on the stock. Barclays boosted their target price on Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. BMO Capital Markets raised their price target on Paycom Software from $244.00 to $258.00 and gave the stock a "market perform" rating in a research report on Thursday, August 7th. Finally, KeyCorp boosted their price objective on Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $234.36.

Paycom Software Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.

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