Paycom Software, Inc. $PAYC Shares Sold by Fundsmith LLP

Fundsmith LLP lowered its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 54.1% during the second quarter, HoldingsChannel reports. The firm owned 100,763 shares of the software maker’s stock after selling 118,694 shares during the period. Fundsmith LLP’s holdings in Paycom Software were worth $12,664,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Two Sigma Securities LLC boosted its stake in shares of Paycom Software by 6.7% in the second quarter. Two Sigma Securities LLC now owns 4,506 shares of the software maker’s stock valued at $566,000 after purchasing an additional 281 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Paycom Software by 5.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,906 shares of the software maker’s stock valued at $1,748,000 after acquiring an additional 706 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Paycom Software during the second quarter worth about $4,888,000. Wellington Management Group LLP lifted its stake in shares of Paycom Software by 168.6% in the second quarter. Wellington Management Group LLP now owns 27,862 shares of the software maker’s stock worth $3,502,000 after acquiring an additional 17,488 shares in the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of Paycom Software in the second quarter worth about $447,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Performance

PAYC opened at $239.00 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $242.50. The business’s 50 day moving average is $171.24 and its 200-day moving average is $143.59. The stock has a market cap of $10.77 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.32 and a beta of 0.75.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.40. The company had revenue of $531.20 million during the quarter, compared to analysts’ expectations of $513.12 million. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.06 earnings per share. On average, analysts predict that Paycom Software, Inc. will post 10.65 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 24th. Paycom Software’s payout ratio is currently 15.94%.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen raised Paycom Software from a “hold” rating to a “buy” rating in a research report on Saturday. Guggenheim raised their price objective on shares of Paycom Software from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. BTIG Research boosted their price objective on Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Zacks Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $208.08.

Paycom Software Company Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.