Paycom Software, Inc. $PAYC Shares Bought by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd increased its Paycom stake by 311.7% in the second quarter, owning 46,197 shares valued at approximately $5.8 million. Institutional investors collectively hold 87.77% of PAYC.
• Analysts have raised their price targets following Paycom’s quarterly earnings beat, with the average target at $214.23 and an overall “Hold” rating. UBS, BTIG Research and TD Cowen maintain “Buy” ratings.
• Paycom reported quarterly EPS of $2.78, exceeding estimates by $0.40, while revenue rose 9.8% year over year to $531.2 million. The company also pays a quarterly dividend of $0.375 per share, representing a 0.7% yield.

WINTON GROUP Ltd grew its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 311.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,197 shares of the software maker's stock after buying an additional 34,976 shares during the period. WINTON GROUP Ltd owned 0.10% of Paycom Software worth $5,806,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Engineers Gate Manager LP lifted its position in Paycom Software by 52.4% in the second quarter. Engineers Gate Manager LP now owns 80,419 shares of the software maker's stock valued at $10,107,000 after acquiring an additional 27,644 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Paycom Software during the second quarter worth about $244,000. NewEdge Advisors LLC increased its position in shares of Paycom Software by 20.9% during the second quarter. NewEdge Advisors LLC now owns 11,289 shares of the software maker's stock worth $1,419,000 after purchasing an additional 1,949 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Paycom Software by 41.4% in the 2nd quarter. IFP Advisors Inc now owns 352 shares of the software maker's stock valued at $44,000 after purchasing an additional 103 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Paycom Software by 55.2% in the 2nd quarter. Allworth Financial LP now owns 1,400 shares of the software maker's stock valued at $176,000 after purchasing an additional 498 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Shane Hadlock sold 241 shares of Paycom Software stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $240.07, for a total value of $57,856.87. Following the completion of the sale, the insider directly owned 69,911 shares of the company's stock, valued at approximately $16,783,533.77. The trade was a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.20% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on PAYC. BMO Capital Markets increased their price objective on Paycom Software from $145.00 to $208.00 and gave the stock a "market perform" rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Paycom Software from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. UBS Group increased their price target on Paycom Software from $205.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday, September 1st. BTIG Research lifted their price objective on shares of Paycom Software from $160.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, TD Cowen boosted their price objective on shares of Paycom Software from $149.00 to $244.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Paycom Software currently has an average rating of "Hold" and an average target price of $214.23.

Paycom Software Trading Up 0.2%

Shares of PAYC stock opened at $216.11 on Friday. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.20 and a beta of 0.78. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57. The firm has a 50-day moving average price of $189.44 and a 200 day moving average price of $150.42. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $244.98.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.40. The company had revenue of $531.20 million for the quarter, compared to analysts' expectations of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $2.06 EPS. Research analysts forecast that Paycom Software, Inc. will post 10.65 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were given a dividend of $0.375 per share. The ex-dividend date was Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. Paycom Software's dividend payout ratio (DPR) is 15.94%.

About Paycom Software

Paycom Software, Inc is a provider of cloud-based payroll and human capital management (HCM) software for businesses. Its platform is designed to help organizations manage employee data and payroll processes through a unified system, serving small, midsize and larger employers primarily in the United States.

The company's products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, employee learning, performance management, compensation planning, benefits administration, expense management and compliance tools.

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