Nisa Investment Advisors LLC Purchases 9,867 Shares of Paycom Software, Inc. $PAYC

Key Points

• Nisa Investment Advisors increased its Paycom Software position by 1,483.8% in the third quarter, purchasing 9,867 additional shares valued at approximately $2.29 million. Institutional investors and hedge funds collectively own 87.77% of the stock.
• Paycom reported quarterly revenue of $531.2 million and EPS of $2.78, exceeding analyst estimates, while revenue grew 9.8% year over year. The company also pays a quarterly dividend of $0.375 per share, equivalent to a 0.5% yield.
• Analyst sentiment remains mixed: five analysts rate Paycom a Buy, ten recommend Hold, and one recommends Sell. The consensus price target is $225.14, below the reported trading price of $274.64.

Nisa Investment Advisors LLC raised its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 1,483.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,532 shares of the software maker's stock after buying an additional 9,867 shares during the period. Nisa Investment Advisors LLC's holdings in Paycom Software were worth $2,292,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Paycom Software during the second quarter worth about $632,460,000. Bank of New York Mellon Corp purchased a new position in Paycom Software in the second quarter valued at about $42,858,000. Equity Investment Corp purchased a new position in Paycom Software in the second quarter valued at about $37,085,000. Bank of America Corp DE purchased a new position in Paycom Software in the second quarter valued at about $34,146,000. Finally, Reinhart Partners LLC. grew its stake in Paycom Software by 20.1% during the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker's stock valued at $153,320,000 after purchasing an additional 204,191 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Trading Up 0.7%

NYSE:PAYC opened at $274.64 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. The business's 50 day moving average is $231.72 and its two-hundred day moving average is $173.62. Paycom Software, Inc. has a 52 week low of $104.90 and a 52 week high of $275.22. The company has a market cap of $12.38 billion, a PE ratio of 29.19, a P/E/G ratio of 1.47 and a beta of 0.82.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, topping the consensus estimate of $2.38 by $0.40. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%. The company had revenue of $531.20 million during the quarter, compared to analyst estimates of $513.12 million. During the same quarter last year, the firm earned $2.06 EPS. The business's revenue was up 9.8% on a year-over-year basis. On average, analysts predict that Paycom Software, Inc. will post 10.80 EPS for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were paid a dividend of $0.3750 per share. The ex-dividend date was Monday, August 24th. This represents a $1.50 annualized dividend and a yield of 0.5%. Paycom Software's dividend payout ratio (DPR) is 15.94%.

Insider Buying and Selling

In other Paycom Software news, insider Shane Hadlock sold 2,577 shares of Paycom Software stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $237.60, for a total value of $612,295.20. Following the completion of the transaction, the insider owned 70,152 shares of the company's stock, valued at $16,668,115.20. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 13.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PAYC has been the topic of several analyst reports. BTIG Research lifted their price objective on Paycom Software from $160.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Bank of America began coverage on Paycom Software in a research note on Tuesday, September 29th. They set an "underperform" rating and a $200.00 target price for the company. Weiss Ratings raised shares of Paycom Software from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Wall Street Zen downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research report on Sunday, September 6th. Finally, TD Cowen lifted their price target on shares of Paycom Software from $244.00 to $286.00 and gave the stock a "buy" rating in a research note on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $225.14.

Paycom Software Company Profile

Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.

The company's software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.

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