Janney Montgomery Scott LLC Reduces Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Janney Montgomery Scott LLC reduced its stake in Paycom Software, Inc. (NYSE:PAYCFree Report) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,760 shares of the software maker’s stock after selling 2,409 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of Paycom Software worth $10,308,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PAYC. Alliancebernstein L.P. raised its stake in Paycom Software by 59.6% in the second quarter. Alliancebernstein L.P. now owns 2,146,132 shares of the software maker’s stock valued at $689,423,000 after buying an additional 801,539 shares in the last quarter. Morgan Stanley grew its holdings in shares of Paycom Software by 147.5% during the fourth quarter. Morgan Stanley now owns 1,084,991 shares of the software maker’s stock worth $336,684,000 after purchasing an additional 646,679 shares during the last quarter. Holocene Advisors LP grew its holdings in shares of Paycom Software by 121.9% during the second quarter. Holocene Advisors LP now owns 520,003 shares of the software maker’s stock worth $167,046,000 after purchasing an additional 285,640 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Paycom Software by 47.8% during the first quarter. Goldman Sachs Group Inc. now owns 877,824 shares of the software maker’s stock worth $304,061,000 after purchasing an additional 283,892 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Paycom Software by 593.4% during the first quarter. Renaissance Technologies LLC now owns 249,850 shares of the software maker’s stock worth $75,957,000 after buying an additional 213,816 shares during the last quarter. 88.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PAYC shares. William Blair lowered Paycom Software from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st. Citigroup lowered their price target on Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a report on Wednesday, January 31st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $195.00 price objective on shares of Paycom Software in a report on Friday, January 5th. Barclays lowered their price objective on Paycom Software from $294.00 to $200.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 1st. Finally, Bank of America lowered Paycom Software from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $330.00 to $185.00 in a report on Thursday, November 2nd. Seventeen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $262.33.

Get Our Latest Stock Report on Paycom Software

Paycom Software Trading Down 2.9 %

Shares of PAYC opened at $190.00 on Friday. The stock has a fifty day moving average of $197.26 and a two-hundred day moving average of $236.88. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.24 and a current ratio of 1.11. The company has a market capitalization of $11.44 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 1.71 and a beta of 1.21. Paycom Software, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $374.04.

Paycom Software (NYSE:PAYCGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. The company had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. Paycom Software’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 EPS. As a group, analysts forecast that Paycom Software, Inc. will post 6.25 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 18th. Stockholders of record on Monday, March 4th will be paid a dividend of $0.375 per share. The ex-dividend date is Friday, March 1st. This represents a $1.50 annualized dividend and a dividend yield of 0.79%. Paycom Software’s dividend payout ratio is presently 25.42%.

About Paycom Software

(Free Report)

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.

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

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