Paycom Software, Inc. $PAYC Stock Position Cut by Barlow Wealth Partners Inc.

Key Points

• Barlow Wealth Partners Inc. reduced its stake in Paycom Software, Inc. by 18.7%, now owning approximately 80,269 shares worth around $18.3 million.
• Multiple institutional investors have increased their stakes in Paycom, with Baillie Gifford & Co. significantly growing its position by 1,918.4% to over 1.58 million shares.
• Paycom Software recently reported earnings of $2.06 per share, surpassing analyst expectations and achieving a 10.5% year-over-year revenue growth.

Barlow Wealth Partners Inc. lessened its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 18.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,269 shares of the software maker's stock after selling 18,468 shares during the period. Paycom Software accounts for 2.2% of Barlow Wealth Partners Inc.'s portfolio, making the stock its 21st biggest holding. Barlow Wealth Partners Inc. owned about 0.14% of Paycom Software worth $18,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Baillie Gifford & Co. grew its position in Paycom Software by 1,918.4% in the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker's stock valued at $346,180,000 after buying an additional 1,505,990 shares in the last quarter. Invesco Ltd. grew its position in Paycom Software by 5.0% in the 1st quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker's stock valued at $269,398,000 after buying an additional 58,176 shares in the last quarter. Northern Trust Corp grew its position in Paycom Software by 2.3% in the 1st quarter. Northern Trust Corp now owns 740,385 shares of the software maker's stock valued at $161,759,000 after buying an additional 16,369 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Paycom Software by 12.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 633,626 shares of the software maker's stock valued at $138,435,000 after purchasing an additional 69,884 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Paycom Software during the 1st quarter valued at about $114,440,000. Institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

PAYC has been the subject of several research reports. Weiss Ratings restated a "hold (c)" rating on shares of Paycom Software in a research report on Wednesday, October 8th. UBS Group reduced their price objective on shares of Paycom Software from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. Barclays raised their price objective 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. Guggenheim initiated coverage on shares of Paycom Software in a research report on Friday, September 26th. They set a "buy" rating and a $270.00 price objective for the company. Finally, Cantor Fitzgerald upgraded shares of Paycom Software to a "hold" rating in a research report on Thursday, September 11th. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Paycom Software presently has a consensus rating of "Hold" and a consensus price target of $245.62.

Paycom Software Price Performance

NYSE PAYC opened at $199.94 on Thursday. The company has a 50 day simple moving average of $217.50 and a 200-day simple moving average of $228.50. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. Paycom Software, Inc. has a 52-week low of $161.24 and a 52-week high of $267.76.

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

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 25th. Paycom Software's dividend payout ratio (DPR) is presently 20.30%.

Insiders Place Their Bets

In related news, insider Bradley Scott Smith sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the transaction, the insider owned 24,533 shares of the company's stock, valued at approximately $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.90% of the company's stock.

About Paycom Software

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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