Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $222.31 Million Stake in Paycom Software, Inc. $PAYC

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors LLP MA holds a stake of $222.31 million in Paycom Software, representing 2.0% of its total holdings, after a minor reduction of 0.3% in the second quarter.
• Paycom Software reported a quarterly earnings per share of $2.06, exceeding analyst expectations and showing a year-over-year revenue increase of 10.5% to $483.60 million.
• The stock has a market capitalization of $11.70 billion and an average price target recommendation of $243.69, with a majority of analysts rating it as a "Hold."

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 960,735 shares of the software maker's stock after selling 2,568 shares during the period. Paycom Software accounts for 2.0% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings, making the stock its 17th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 1.66% of Paycom Software worth $222,313,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group raised its position in Paycom Software by 19.4% during the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker's stock valued at $52,000 after purchasing an additional 39 shares in the last quarter. Commerce Bank raised its position in Paycom Software by 2.2% during the first quarter. Commerce Bank now owns 2,351 shares of the software maker's stock valued at $514,000 after purchasing an additional 50 shares in the last quarter. Allworth Financial LP raised its position in Paycom Software by 12.9% during the first quarter. Allworth Financial LP now owns 464 shares of the software maker's stock valued at $105,000 after purchasing an additional 53 shares in the last quarter. US Bancorp DE raised its position in Paycom Software by 0.5% during the first quarter. US Bancorp DE now owns 10,421 shares of the software maker's stock valued at $2,277,000 after purchasing an additional 57 shares in the last quarter. Finally, Burns Matteson Capital Management LLC raised its position in Paycom Software by 2.5% during the first quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker's stock valued at $513,000 after purchasing an additional 58 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $202.21 on Thursday. The company has a fifty day moving average of $215.35 and a 200-day moving average of $228.10. The company has a market capitalization of $11.70 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.29 and a beta of 0.82. Paycom Software, Inc. has a 52-week low of $162.62 and a 52-week high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last issued 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. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company had revenue of $483.60 million for the quarter, compared to analysts' expectations of $472.00 million. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Paycom Software's revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

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

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the sale, the insider owned 24,533 shares of the company's stock, valued at $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 10.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. BMO Capital Markets boosted their price objective 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. KeyCorp boosted their price objective 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. Barclays lowered their price objective on shares of Paycom Software from $250.00 to $225.00 and set an "equal weight" rating for the company in a research report on Tuesday. Cantor Fitzgerald upgraded shares of Paycom Software to a "hold" rating in a report on Thursday, September 11th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Paycom Software in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $243.69.

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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