1,944 Paycom Software, Inc. $PAYC Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC increased its position in Paycom Software, Inc. (NYSE:PAYC) by 157.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,176 shares of the software maker’s stock after buying an additional 1,944 shares during the period. Sterling Capital Management LLC’s holdings in Paycom Software were worth $691,000 at the end of the most recent quarter.

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

Insider Activity

In related news, insider Shane Hadlock sold 241 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $240.07, for a total transaction of $57,856.87. Following the transaction, the insider directly owned 69,911 shares in the company, valued at approximately $16,783,533.77. This represents a 0.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. TD Cowen lifted their price objective on shares of Paycom Software from $244.00 to $286.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. KeyCorp upped their target price on shares of Paycom Software from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, September 21st. Citigroup upped their target price on shares of Paycom Software from $194.00 to $279.00 and gave the company a “neutral” rating in a research report on Tuesday. BTIG Research increased their price target on shares of Paycom Software from $230.00 to $305.00 and gave the company a “buy” rating in a report on Monday. Finally, Guggenheim lifted their price target on Paycom Software from $225.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and an average target price of $248.71.

Paycom Software Stock Performance

NYSE:PAYC opened at $261.07 on Wednesday. The stock’s fifty day moving average is $233.37 and its 200 day moving average is $162.55. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $275.22.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.40. The company had revenue of $531.20 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the prior year, the business earned $2.06 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts predict that Paycom Software, Inc. will post 10.80 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were issued a $0.3750 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, August 24th.

About Paycom Software

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.