Stratos Wealth Partners LTD. Sells 1,698 Shares of Paycom Software, Inc. $PAYC

Key Points

• Stratos Wealth Partners LTD. sold 1,698 shares of Paycom Software, reducing its stake by 49.3% and leaving it with a total of 1,745 shares valued at $404,000.
• Paycom Software's stock closed at $199.56 and has a 12-month high of $267.76, alongside a market cap of $11.55 billion.
• In its latest earnings report, Paycom Software exceeded estimates with $2.06 EPS, surpassing analysts' expectations of $1.78, while revenue rose by 10.5% year-over-year.

Stratos Wealth Partners LTD. cut its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 49.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,745 shares of the software maker's stock after selling 1,698 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Paycom Software were worth $404,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Kingsview Wealth Management LLC increased its stake in shares of Paycom Software by 8.4% in the first quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker's stock valued at $323,000 after buying an additional 114 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Paycom Software by 54.5% in the first quarter. GAMMA Investing LLC now owns 904 shares of the software maker's stock valued at $198,000 after buying an additional 319 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Paycom Software in the first quarter valued at $690,000. Asset Management One Co. Ltd. increased its stake in shares of Paycom Software by 5.9% in the first quarter. Asset Management One Co. Ltd. now owns 21,430 shares of the software maker's stock valued at $4,682,000 after buying an additional 1,190 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Paycom Software by 132.8% in the first quarter. Victory Capital Management Inc. now owns 18,809 shares of the software maker's stock valued at $4,109,000 after buying an additional 10,731 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Down 0.3%

Paycom Software stock opened at $199.56 on Friday. Paycom Software, Inc. has a 12-month low of $163.75 and a 12-month high of $267.76. The stock has a market cap of $11.55 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 2.21 and a beta of 0.82. The business's 50-day simple moving average is $214.69 and its 200 day simple moving average is $228.17.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its 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. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The firm had revenue of $483.60 million for the quarter, compared to analysts' expectations of $472.00 million. During the same quarter last year, the business earned $1.62 earnings per share. The company's revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

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

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was 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 in the company, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PAYC shares. KeyCorp raised their target price on Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. BMO Capital Markets raised their target price on Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Barclays lowered their target price on Paycom Software from $250.00 to $225.00 and set an "equal weight" rating for the company in a research note on Tuesday. TD Cowen upgraded Paycom Software from a "hold" rating to a "buy" rating and raised their price target for the company from $246.00 to $258.00 in a report on Monday, September 22nd. Finally, UBS Group decreased their price target on Paycom Software from $310.00 to $285.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $243.69.

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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