Paycom Software, Inc. $PAYC Holdings Reduced by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors cut its Paycom stake by 44.9% in the third quarter, selling 326,111 shares and retaining 400,139 shares worth approximately $87.1 million.
• Paycom reported stronger-than-expected quarterly results, with earnings of $2.78 per share and revenue of $531.2 million; revenue increased 9.8% year over year.
• The stock traded near its 12-month high at $274.64, while analysts maintained a consensus “Hold” rating with an average price target of $225.14. Paycom also pays a quarterly dividend of $0.375 per share, yielding about 0.5%.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 44.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400,139 shares of the software maker's stock after selling 326,111 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.89% of Paycom Software worth $87,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. TD Waterhouse Canada Inc. acquired a new position in shares of Paycom Software during the third quarter valued at about $25,000. Caitlin John LLC bought a new stake in shares of Paycom Software in the second quarter valued at about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Paycom Software during the second quarter worth about $33,000. EFG International AG acquired a new stake in Paycom Software during the second quarter worth about $36,000. Finally, Trust Co. of Vermont acquired a new stake in Paycom Software during the second quarter worth about $40,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Price Performance

NYSE:PAYC opened at $274.64 on Monday. 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 firm has a market cap of $12.38 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 1.47 and a beta of 0.82. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $275.22. The company's 50-day moving average price is $231.72 and its two-hundred day moving average price is $173.97.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. 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 business posted $2.06 earnings per share. The company's revenue was up 9.8% on a year-over-year basis. On average, equities analysts anticipate that Paycom Software, Inc. will post 10.80 EPS for the current fiscal year.

Paycom Software Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PAYC. Zacks Research lowered Paycom Software from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Barclays lifted their price objective on Paycom Software from $210.00 to $250.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 13th. BMO Capital Markets upped their target price on Paycom Software from $145.00 to $208.00 and gave the company a "market perform" rating in a research note on Thursday, August 6th. BTIG Research upped their target price on Paycom Software from $160.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Stifel Nicolaus raised their target price on Paycom Software from $120.00 to $200.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $225.14.

Insiders Place Their Bets

In other Paycom Software news, insider Shane Hadlock sold 241 shares of Paycom Software stock in a transaction on Friday, August 28th. The stock was sold at an average price of $240.07, for a total value of $57,856.87. Following the completion of the transaction, the insider owned 69,911 shares in the company, valued at approximately $16,783,533.77. The trade was a 0.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.20% of the stock is owned by corporate insiders.

About Paycom Software

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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