Invesco Ltd. Acquires 58,176 Shares of Paycom Software, Inc. (NYSE:PAYC)

Key Points

• Invesco Ltd. has increased its stake in Paycom Software by 5.0%, acquiring an additional 58,176 shares in the first quarter, bringing its total ownership to 1,233,057 shares worth approximately $269.4 million.
• Paycom Software's latest earnings report showed an EPS of $2.06, beating the consensus estimate by $0.28, with a quarterly revenue of $483.6 million—up 10.5% year-over-year.
• The company announced a quarterly dividend of $0.375 per share, with an upcoming payment date set for September 8th, representing an annualized yield of 0.7%.

Invesco Ltd. raised its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,233,057 shares of the software maker's stock after buying an additional 58,176 shares during the quarter. Invesco Ltd. owned 2.13% of Paycom Software worth $269,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PAYC. Kingsview Wealth Management LLC grew its holdings in shares of Paycom Software by 8.4% in the 1st quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker's stock worth $323,000 after purchasing an additional 114 shares during the last quarter. SG Americas Securities LLC grew its holdings in Paycom Software by 57.1% during the 1st quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker's stock worth $587,000 after acquiring an additional 976 shares during the last quarter. GAMMA Investing LLC grew its holdings in Paycom Software by 54.5% during the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker's stock worth $198,000 after acquiring an additional 319 shares during the last quarter. Rhumbline Advisers lifted its position in Paycom Software by 11.9% during the 1st quarter. Rhumbline Advisers now owns 102,936 shares of the software maker's stock valued at $22,489,000 after purchasing an additional 10,908 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in Paycom Software by 15.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker's stock valued at $220,000 after purchasing an additional 136 shares during the period. Institutional investors own 87.77% of the company's stock.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $214.66 on Wednesday. The company has a market capitalization of $12.42 billion, a price-to-earnings ratio of 29.05, a P/E/G ratio of 2.50 and a beta of 0.81. The firm's 50 day simple moving average is $234.64 and its 200 day simple moving average is $227.30. Paycom Software, Inc. has a fifty-two week low of $152.46 and a fifty-two week high of $267.76.

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

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 25th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 25th. Paycom Software's dividend payout ratio (DPR) is 20.30%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PAYC shares. BMO Capital Markets upped their target price on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a research report on Thursday, August 7th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Barclays upped their target price on shares of Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Stifel Nicolaus increased their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Finally, KeyCorp increased their price target on shares of Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $234.80.

Insiders Place Their Bets

In other Paycom Software news, COO Randall Peck sold 890 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the sale, the chief operating officer directly owned 49,394 shares in the company, valued at approximately $13,000,994.74. This trade represents a 1.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Chad R. Richison sold 23,200 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the sale, the chief executive officer owned 3,224,049 shares in the company, valued at $855,017,794.80. This trade represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,590 shares of company stock worth $6,761,837. Company insiders own 10.90% of the company's stock.

Paycom Software Company 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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