Dillon & Associates Inc. Increases Stock Holdings in Paycom Software, Inc. $PAYC

Dillon & Associates Inc. increased its holdings in Paycom Software, Inc. (NYSE:PAYC) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,457 shares of the software maker’s stock after purchasing an additional 2,016 shares during the period. Paycom Software accounts for 1.9% of Dillon & Associates Inc.’s investment portfolio, making the stock its 17th biggest position. Dillon & Associates Inc. owned about 0.11% of Paycom Software worth $14,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PAYC. Baillie Gifford & Co. boosted its holdings in Paycom Software by 1,918.4% in the first quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock valued at $346,180,000 after acquiring an additional 1,505,990 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Paycom Software in the first quarter valued at $114,440,000. Jennison Associates LLC acquired a new position in Paycom Software in the second quarter valued at $49,853,000. Nuveen LLC acquired a new position in Paycom Software in the first quarter valued at $26,177,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Paycom Software by 322.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 122,394 shares of the software maker’s stock valued at $28,322,000 after acquiring an additional 93,440 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PAYC. JPMorgan Chase & Co. boosted their price objective on Paycom Software from $215.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. TD Cowen upgraded Paycom Software from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $246.00 to $258.00 in a research note on Monday, September 22nd. UBS Group reduced their price objective on Paycom Software from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Barclays reduced their price objective on Paycom Software from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Finally, Guggenheim assumed coverage on Paycom Software in a research report on Friday, September 26th. They set a “buy” rating and a $270.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $243.69.

Insider Buying and Selling

In other news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 10.90% of the company’s stock.

Paycom Software Stock Down 1.2%

Shares of NYSE:PAYC opened at $184.89 on Tuesday. Paycom Software, Inc. has a 12-month low of $182.88 and a 12-month high of $267.76. The company has a market cap of $10.70 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88. The company’s fifty day moving average is $210.15 and its two-hundred day moving average is $227.47.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data 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. The firm had revenue of $483.60 million during the quarter, compared to analysts’ expectations of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. Paycom Software’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 earnings per share. Equities research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 24th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.8%. Paycom Software’s dividend payout ratio (DPR) 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.