VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in Paycom Software, Inc. $PAYC

Key Points

• Virginia Retirement Systems acquired a new position in Paycom Software, purchasing 45,800 shares valued at approximately $10.6 million in the second quarter.
• Insider Bradley Scott Smith sold 1,500 shares of Paycom's stock, resulting in a 5.76% decrease of his total holdings.
• Paycom Software reported a quarterly earnings per share (EPS) of $2.06, exceeding analyst expectations of $1.78, and noted a revenue increase of 10.5% from the previous year.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 45,800 shares of the software maker's stock, valued at approximately $10,598,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.08% of Paycom Software as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PAYC. Baillie Gifford & Co. boosted its stake in Paycom Software by 1,918.4% during the first quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker's stock valued at $346,180,000 after buying an additional 1,505,990 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Paycom Software in the 1st quarter valued at $114,440,000. Nuveen LLC acquired a new position in shares of Paycom Software in the 1st quarter valued at $26,177,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Paycom Software by 322.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 122,394 shares of the software maker's stock valued at $28,322,000 after purchasing an additional 93,440 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Paycom Software by 30.7% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 363,949 shares of the software maker's stock valued at $79,516,000 after purchasing an additional 85,526 shares during the period. Institutional investors own 87.77% of the company's stock.

Insider Buying and Selling at Paycom Software

In other 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 completion of the sale, the insider directly owned 24,533 shares of the company's stock, valued at $5,477,482.91. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.90% of the stock is owned by company insiders.

Paycom Software Trading Up 0.4%

Shares of NYSE PAYC opened at $201.46 on Tuesday. Paycom Software, Inc. has a one year low of $162.62 and a one year high of $267.76. The firm has a market capitalization of $11.66 billion, a PE ratio of 27.26, a PEG ratio of 2.20 and a beta of 0.82. The business has a 50-day moving average price of $215.88 and a two-hundred day moving average price of $228.43.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 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 during the quarter, compared to analyst estimates of $472.00 million. During the same period last year, the company posted $1.62 EPS. The business's quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software's dividend payout ratio (DPR) is 20.30%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. KeyCorp increased their price target on Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Jefferies Financial Group decreased their price target on Paycom Software from $250.00 to $225.00 and set a "hold" rating for the company in a research report on Monday, October 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Paycom Software in a research report on Wednesday, October 8th. Cantor Fitzgerald upgraded Paycom Software to a "hold" rating in a research report on Thursday, September 11th. Finally, UBS Group decreased their price target on Paycom Software from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $245.62.

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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