Sather Financial Group Inc Trims Stock Position in Paycom Software, Inc. $PAYC

Key Points

• Sather Financial Group Inc decreased its stake in Paycom Software by 7.4% during the second quarter, now holding 242,484 shares valued at approximately $56.1 million.
• Paycom Software reported better-than-expected quarterly earnings, with an EPS of $2.06 surpassing consensus estimates of $1.78, alongside a revenue increase of 10.5% compared to the previous year.
• The company declared a quarterly dividend of $0.375 per share, with a current annualized dividend yield of 0.8%.

Sather Financial Group Inc lowered its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,484 shares of the software maker's stock after selling 19,259 shares during the period. Paycom Software accounts for about 3.3% of Sather Financial Group Inc's holdings, making the stock its 11th biggest position. Sather Financial Group Inc owned 0.42% of Paycom Software worth $56,111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kingsview Wealth Management LLC grew its stake in Paycom Software by 8.4% in the 1st quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker's stock worth $323,000 after buying an additional 114 shares in the last quarter. SG Americas Securities LLC grew its stake in Paycom Software by 57.1% in the 1st quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker's stock worth $587,000 after buying an additional 976 shares in the last quarter. GAMMA Investing LLC grew its stake in Paycom Software by 54.5% in the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker's stock worth $198,000 after buying an additional 319 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Paycom Software in the 1st quarter worth approximately $690,000. Finally, Exchange Traded Concepts LLC grew its stake in Paycom Software by 15.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker's stock worth $220,000 after buying an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Down 1.3%

NYSE:PAYC opened at $199.87 on Friday. The company has a fifty day moving average of $218.98 and a 200 day moving average of $228.99. Paycom Software, Inc. has a 52 week low of $161.24 and a 52 week high of $267.76. The firm has a market capitalization of $11.57 billion, a P/E ratio of 27.05, a P/E/G ratio of 2.19 and a beta of 0.82.

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

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, August 25th. Paycom Software's dividend payout ratio is currently 20.30%.

Analysts Set New Price Targets

A number of research firms have commented on PAYC. Barclays boosted their price target on shares of Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Paycom Software in a research note on Wednesday. KeyCorp boosted their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. UBS Group lowered their price objective on shares of Paycom Software from $310.00 to $285.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. Finally, TD Cowen upgraded shares of Paycom Software from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $246.00 to $258.00 in a report on Monday, September 22nd. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $241.77.

Insider Buying and Selling

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 in the company, valued at $5,477,482.91. This represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.90% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.