Quantitative Investment Management LLC Sells 9,013 Shares of Paycom Software, Inc. $PAYC

Key Points

• Quantitative Investment Management LLC cut its Paycom Software position by 83.2% in the second quarter, selling 9,013 shares and retaining 1,825 shares worth approximately $229,000. Institutional investors collectively own 87.77% of the company.
• Paycom reported stronger-than-expected quarterly results, with EPS of $2.78 versus the $2.38 consensus and revenue of $531.2 million, up 9.8% year over year. The company also declared a quarterly dividend of $0.375 per share, equivalent to a 0.6% annualized yield.
• PAYC shares opened at $235.49, near their 52-week high of $243.28, while analysts maintained a consensus “Hold” rating with an average price target of $214.23. Insider Terrell Shane Hadlock separately sold 2,577 shares for approximately $612,295.

Quantitative Investment Management LLC lowered its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 83.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,825 shares of the software maker's stock after selling 9,013 shares during the period. Quantitative Investment Management LLC's holdings in Paycom Software were worth $229,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its holdings in Paycom Software by 190.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker's stock worth $25,000 after acquiring an additional 101 shares during the period. Clearstead Advisors LLC boosted its position in shares of Paycom Software by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 161 shares of the software maker's stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Paycom Software during the second quarter worth approximately $29,000. Caitlin John LLC bought a new stake in Paycom Software in the second quarter worth approximately $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Paycom Software in the second quarter worth approximately $33,000. 87.77% of the stock is owned by institutional investors.

Insider Transactions at Paycom Software

In other news, insider Terrell Shane Hadlock sold 2,577 shares of the company's 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 sale, the insider owned 70,152 shares in the company, valued at $16,668,115.20. This represents a 3.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.20% of the stock is owned by corporate insiders.

Paycom Software Stock Down 1.0%

Paycom Software stock opened at $235.49 on Thursday. The firm has a market capitalization of $10.61 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 1.32 and a beta of 0.78. The firm's fifty day moving average price is $177.95 and its two-hundred day moving average price is $146.04. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $243.28. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.38 by $0.40. The company had revenue of $531.20 million for the quarter, compared to analyst estimates 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 was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.06 EPS. On average, equities research analysts predict that Paycom Software, Inc. will post 10.65 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, August 24th. Paycom Software's payout ratio is currently 15.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Paycom Software from $136.00 to $194.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Cantor Fitzgerald increased their target price on shares of Paycom Software from $135.00 to $195.00 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Guggenheim raised their price target on shares of Paycom Software from $180.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Mizuho upped their price objective on shares of Paycom Software from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Finally, Stifel Nicolaus increased their price objective on shares of Paycom Software from $120.00 to $200.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $214.23.

About Paycom Software

Paycom Software, Inc NYSE: PAYC is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom's software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company's core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.

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