Boston Trust Walden Corp Reduces Position in Paycom Software, Inc. $PAYC

Boston Trust Walden Corp cut its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 11.0% in the second quarter, Holdings Channel.com reports. The firm owned 320,140 shares of the software maker’s stock after selling 39,769 shares during the quarter. Boston Trust Walden Corp’s holdings in Paycom Software were worth $74,080,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. von Borstel & Associates Inc. purchased a new position in shares of Paycom Software during the 1st quarter worth about $27,000. SouthState Corp bought a new stake in Paycom Software during the 1st quarter valued at about $27,000. Golden State Wealth Management LLC lifted its holdings in Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after buying an additional 73 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Paycom Software during the 1st quarter valued at about $35,000. Finally, S Bank Fund Management Ltd bought a new stake in Paycom Software during the 1st quarter valued at about $37,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

NYSE:PAYC opened at $201.49 on Tuesday. Paycom Software, Inc. has a one year low of $161.24 and a one year high of $267.76. The firm has a market cap of $11.66 billion, a P/E ratio of 27.27, a P/E/G ratio of 2.19 and a beta of 0.82. The firm has a 50-day simple moving average of $218.42 and a 200-day simple moving average of $228.90.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating the consensus estimate of $1.78 by $0.28. The business had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 EPS. On average, research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were paid a dividend of $0.375 per share. 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 20.30%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PAYC. Barclays lifted their price objective on shares of Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. KeyCorp lifted their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a report on Thursday, September 11th. Guggenheim began coverage on shares of Paycom Software in a report on Friday, September 26th. They set a “buy” rating and a $270.00 price objective for the company. Finally, TD Cowen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and lifted their price objective for the company from $246.00 to $258.00 in a report on Monday, September 22nd. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $245.62.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 10.90% of the stock is currently owned by company 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.