Alliancebernstein L.P. Boosts Stake in Paycom Software, Inc. $PAYC

Alliancebernstein L.P. boosted its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 37.6% in the first quarter, Holdings Channel reports. The institutional investor owned 82,565 shares of the software maker’s stock after acquiring an additional 22,572 shares during the period. Alliancebernstein L.P.’s holdings in Paycom Software were worth $18,039,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kingsview Wealth Management LLC lifted its holdings in Paycom Software by 8.4% during the first quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker’s stock worth $323,000 after buying an additional 114 shares during the period. SG Americas Securities LLC lifted its holdings in Paycom Software by 57.1% during the first quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker’s stock worth $587,000 after buying an additional 976 shares during the period. GAMMA Investing LLC lifted its holdings in Paycom Software by 54.5% during the first quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock worth $198,000 after buying an additional 319 shares during the period. Rhumbline Advisers lifted its holdings in Paycom Software by 11.9% during the first quarter. Rhumbline Advisers now owns 102,936 shares of the software maker’s stock worth $22,489,000 after buying an additional 10,908 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in Paycom Software by 15.6% during the first quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker’s stock worth $220,000 after buying an additional 136 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PAYC shares. BMO Capital Markets increased their price objective on Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. Barclays increased their price objective on Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. KeyCorp increased their price objective on Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, Cantor Fitzgerald started coverage on Paycom Software in a report on Thursday, August 14th. They set a “neutral” rating and a $230.00 price objective for the company. One analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $234.36.

Paycom Software Price Performance

NYSE PAYC opened at $221.16 on Thursday. The stock’s fifty day moving average price is $227.39 and its 200 day moving average price is $229.48. Paycom Software, Inc. has a 1 year low of $158.03 and a 1 year high of $267.76. The company has a market cap of $12.80 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 2.44 and a beta of 0.81.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The firm had revenue of $483.60 million for the quarter, compared to the consensus estimate of $472.00 million. During the same period in the prior year, the firm earned $1.62 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. Research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, August 25th. Paycom Software’s dividend payout ratio is presently 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.