Paycom Software, Inc. $PAYC Holdings Trimmed by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in Paycom Software, Inc. (NYSE:PAYC – Free Report) by 44.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 400,139 shares of the software maker’s stock after selling 326,111 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Paycom Software were worth $87,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PAYC. BlackRock Inc. bought a new stake in shares of Paycom Software during the second quarter valued at approximately $632,460,000. Bank of New York Mellon Corp acquired a new position in Paycom Software during the 2nd quarter worth $42,858,000. Equity Investment Corp acquired a new position in Paycom Software during the 2nd quarter worth $37,085,000. Bank of America Corp DE acquired a new position in Paycom Software during the 2nd quarter worth $34,146,000. Finally, Reinhart Partners LLC. boosted its position in Paycom Software by 20.1% in the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock valued at $153,320,000 after buying an additional 204,191 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several research reports. Zacks Research cut Paycom Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Barclays upped their price target on Paycom Software from $210.00 to $250.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 13th. Weiss Ratings upgraded Paycom Software from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. BMO Capital Markets raised their price target on Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Finally, Stifel Nicolaus lifted their price objective on Paycom Software from $120.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $225.14.

Read Our Latest Report on PAYC

Insider Buying and Selling at Paycom Software

In other news, insider Shane Hadlock sold 2,577 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $237.60, for a total value of $612,295.20. Following the completion of the transaction, the insider owned 70,152 shares of the company’s stock, valued at $16,668,115.20. The trade was a 3.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.20% of the stock is currently owned by corporate insiders.

Paycom Software Stock Performance

Shares of PAYC stock opened at $274.64 on Monday. The stock has a market cap of $12.38 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 1.47 and a beta of 0.82. The stock has a 50-day moving average of $231.72 and a 200-day moving average of $173.97. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07. Paycom Software, Inc. has a one year low of $104.90 and a one year high of $275.22.

Paycom Software (NYSE:PAYC – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.40. The business had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. Paycom Software’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.06 EPS. As a group, sell-side analysts expect that Paycom Software, Inc. will post 10.80 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were given a dividend of $0.3750 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 24th. Paycom Software’s dividend payout ratio (DPR) is currently 15.94%.

Paycom Software Company Profile

(Free Report)

Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.

The company’s software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.

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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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