Dimensional Fund Advisors LP Cuts Stake in Paycom Software Inc (PAYC)

Dimensional Fund Advisors LP lowered its position in shares of Paycom Software Inc (NYSE:PAYC) by 18.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 604,132 shares of the software maker’s stock after selling 135,299 shares during the period. Dimensional Fund Advisors LP’s holdings in Paycom Software were worth $59,709,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PAYC. SeaCrest Wealth Management LLC increased its stake in shares of Paycom Software by 154.3% during the second quarter. SeaCrest Wealth Management LLC now owns 1,030 shares of the software maker’s stock valued at $102,000 after buying an additional 625 shares during the period. IFP Advisors Inc increased its stake in shares of Paycom Software by 181.0% during the first quarter. IFP Advisors Inc now owns 1,124 shares of the software maker’s stock valued at $121,000 after buying an additional 724 shares during the period. Rational Advisors LLC purchased a new position in Paycom Software in the second quarter valued at about $148,000. Envestnet Asset Management Inc. grew its stake in Paycom Software by 613.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,398 shares of the software maker’s stock valued at $149,000 after purchasing an additional 1,202 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new position in Paycom Software in the second quarter valued at about $164,000. Hedge funds and other institutional investors own 83.05% of the company’s stock.

Shares of PAYC stock opened at $153.65 on Monday. Paycom Software Inc has a fifty-two week low of $73.02 and a fifty-two week high of $164.08. The stock has a market cap of $9.01 billion, a PE ratio of 174.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.06 and a current ratio of 1.06.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, July 31st. The software maker reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.18. Paycom Software had a return on equity of 42.01% and a net margin of 20.85%. The business had revenue of $128.80 million for the quarter, compared to analyst estimates of $124.47 million. sell-side analysts predict that Paycom Software Inc will post 2.12 EPS for the current year.

In related news, CFO Craig E. Boelte sold 12,000 shares of Paycom Software stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $155.63, for a total transaction of $1,867,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey D. York sold 50,000 shares of Paycom Software stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $99.84, for a total value of $4,992,000.00. The disclosure for this sale can be found here. Insiders have sold 95,287 shares of company stock worth $10,713,759 in the last 90 days. Insiders own 16.24% of the company’s stock.

Several research firms have issued reports on PAYC. Stifel Nicolaus lifted their target price on Paycom Software from $100.00 to $115.00 and gave the company a “hold” rating in a research note on Wednesday, August 1st. Royal Bank of Canada lifted their target price on Paycom Software to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 30th. Zacks Investment Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating and set a $155.00 target price on the stock in a research note on Friday, August 3rd. Barclays lifted their target price on Paycom Software from $117.00 to $131.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 1st. Finally, Bank of America lifted their target price on Paycom Software from $125.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Paycom Software presently has an average rating of “Buy” and an average price target of $116.53.

Paycom Software Company Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.

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

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