Schroder Investment Management Group Acquires 24,226 Shares of Paycom Software, Inc. $PAYC

Schroder Investment Management Group lifted its holdings in Paycom Software, Inc. (NYSE:PAYC) by 1,339.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,035 shares of the software maker’s stock after buying an additional 24,226 shares during the quarter. Schroder Investment Management Group’s holdings in Paycom Software were worth $6,024,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in Paycom Software in the fourth quarter worth $638,000. LPL Financial LLC grew its holdings in shares of Paycom Software by 30.8% in the first quarter. LPL Financial LLC now owns 69,509 shares of the software maker’s stock worth $15,186,000 after purchasing an additional 16,383 shares during the last quarter. US Bancorp DE increased its stake in Paycom Software by 0.5% in the 1st quarter. US Bancorp DE now owns 10,421 shares of the software maker’s stock worth $2,277,000 after buying an additional 57 shares during the period. Commerce Bank lifted its holdings in Paycom Software by 2.2% during the 1st quarter. Commerce Bank now owns 2,351 shares of the software maker’s stock valued at $514,000 after buying an additional 50 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Paycom Software by 2.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,126 shares of the software maker’s stock valued at $1,338,000 after buying an additional 165 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Up 0.9%

Shares of NYSE:PAYC opened at $166.07 on Friday. The firm has a 50 day moving average of $184.21 and a 200 day moving average of $216.47. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.79 and a beta of 0.84. Paycom Software, Inc. has a 52 week low of $156.50 and a 52 week high of $267.76.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.02). The company had revenue of $493.30 million for the quarter, compared to the consensus estimate of $492.62 million. Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $1.67 EPS. On average, sell-side analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 24th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, November 24th. Paycom Software’s payout ratio is 18.66%.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the transaction, the insider directly owned 24,533 shares in the company, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.90% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the topic of a number of research reports. Mizuho reduced their target price on shares of Paycom Software from $220.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. JPMorgan Chase & Co. dropped their price objective on Paycom Software from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Guggenheim began coverage on Paycom Software in a report on Friday, September 26th. They set a “buy” rating and a $270.00 price objective on the stock. Barclays decreased their target price on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Finally, TD Cowen dropped their price target on Paycom Software from $258.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $225.77.

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.