Paycom Software, Inc. $PAYC Shares Acquired by Swedbank AB

Key Points

• Swedbank AB increased its holdings in Paycom Software by 9.1%, owning 74,889 shares valued at approximately $17.3 million as of the latest SEC filing.
• Paycom Software's earnings report revealed $2.06 EPS for the quarter, surpassing expectations and showing a 10.5% revenue increase compared to the same period last year.
• The company announced a quarterly dividend of $0.375 per share, representing a 0.7% yield and signifying a payout ratio of 20.30%.

Swedbank AB boosted its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 9.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,889 shares of the software maker's stock after buying an additional 6,251 shares during the period. Swedbank AB owned approximately 0.13% of Paycom Software worth $17,329,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PAYC. Baillie Gifford & Co. raised its holdings 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 worth $346,180,000 after acquiring an additional 1,505,990 shares during the period. Invesco Ltd. increased its stake 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 during the last quarter. Northern Trust Corp raised its holdings in shares of 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 acquiring an additional 16,369 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Paycom Software by 12.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 633,626 shares of the software maker's stock worth $138,435,000 after purchasing an additional 69,884 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Paycom Software during the first quarter valued at approximately $114,440,000. Institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PAYC. Barclays raised their price target on Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. KeyCorp upped their price target on shares of Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Cantor Fitzgerald upgraded shares of Paycom Software to a "hold" rating in a report on Thursday, September 11th. BMO Capital Markets increased their target price 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. Finally, UBS Group cut their target price on shares of Paycom Software from $310.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Paycom Software currently has a consensus rating of "Hold" and an average price target of $238.58.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the transaction, the insider owned 24,533 shares in the company, valued at $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 10.90% of the company's stock.

Paycom Software Stock Down 0.1%

PAYC stock traded down $0.23 during midday trading on Friday, reaching $216.32. The company's stock had a trading volume of 1,660,400 shares, compared to its average volume of 606,669. The business's 50-day simple moving average is $225.68 and its 200-day simple moving average is $229.73. The stock has a market cap of $12.52 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81. Paycom Software, Inc. has a 52 week low of $158.03 and a 52 week high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $472.00 million. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Paycom Software's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, August 25th. Paycom Software's payout ratio is currently 20.30%.

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.