Reinhart Partners LLC. Decreases Stake in Paycom Software, Inc. $PAYC

Key Points

• Reinhart Partners LLC reduced its stake in Paycom Software by 8.6%, selling 5,978 shares, leaving them with 63,921 shares valued at approximately $14.79 million.
• Insider Bradley Scott Smith sold 1,500 shares of Paycom, decreasing his ownership by 5.76% to 24,533 shares, valued at about $5.48 million.
• Paycom's recent quarterly earnings report revealed an EPS of $2.06, which surpassed analyst expectations of $1.78, with revenues of $483.6 million.

Reinhart Partners LLC. cut its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 8.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,921 shares of the software maker's stock after selling 5,978 shares during the period. Reinhart Partners LLC. owned approximately 0.11% of Paycom Software worth $14,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Procyon Advisors LLC acquired a new position in Paycom Software in the second quarter valued at approximately $842,000. Czech National Bank lifted its holdings in Paycom Software by 10.1% in the second quarter. Czech National Bank now owns 11,912 shares of the software maker's stock valued at $2,756,000 after acquiring an additional 1,097 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Paycom Software by 6.5% in the second quarter. Parallel Advisors LLC now owns 1,239 shares of the software maker's stock valued at $287,000 after acquiring an additional 76 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Paycom Software by 188.6% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 681 shares of the software maker's stock worth $158,000 after purchasing an additional 445 shares in the last quarter. Finally, Michael S. Ryan Inc. lifted its stake in Paycom Software by 3.2% during the second quarter. Michael S. Ryan Inc. now owns 2,886 shares of the software maker's stock worth $668,000 after purchasing an additional 90 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Down 0.1%

Shares of Paycom Software stock traded down $0.23 during trading on Friday, hitting $216.32. 1,660,400 shares of the company were exchanged, compared to its average volume of 558,613. Paycom Software, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $267.76. The stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of 29.27, a P/E/G ratio of 2.38 and a beta of 0.81. The firm has a 50 day moving average price of $225.68 and a 200 day moving average price of $229.55.

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

Paycom Software Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, August 25th. Paycom Software's dividend payout ratio is 20.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BMO Capital Markets upped their price target on Paycom Software from $244.00 to $258.00 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Barclays upped their price target on Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Cantor Fitzgerald upgraded Paycom Software to a "hold" rating in a research note on Thursday, September 11th. UBS Group reduced their price objective on Paycom Software from $310.00 to $285.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Paycom Software currently has a consensus rating of "Hold" and a consensus price target of $238.58.

Insiders Place Their Bets

In related news, insider Bradley Scott Smith sold 1,500 shares of the company's stock in a transaction 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 completion of the sale, the insider directly owned 24,533 shares of the company's stock, valued at approximately $5,477,482.91. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.90% of the company's stock.

Paycom Software Profile

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.