Reinhart Partners LLC. Sells 190,637 Shares of Paycom Software, Inc. $PAYC

by · The Markets Daily

Reinhart Partners LLC. lessened its position in shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) by 15.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,029,269 shares of the software maker’s stock after selling 190,637 shares during the period. Paycom Software makes up 5.4% of Reinhart Partners LLC.’s portfolio, making the stock its 2nd biggest position. Reinhart Partners LLC.’s holdings in Paycom Software were worth $224,020,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Elevation Wealth Partners LLC raised its holdings in Paycom Software by 76.5% in the third quarter. Elevation Wealth Partners LLC now owns 233 shares of the software maker’s stock valued at $51,000 after buying an additional 101 shares during the period. Caitlin John LLC acquired a new position in shares of Paycom Software during the 2nd quarter valued at $31,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Paycom Software during the 2nd quarter worth $33,000. EFG International AG purchased a new stake in Paycom Software during the 2nd quarter worth $36,000. Finally, Trust Co. of Vermont acquired a new stake in Paycom Software in the 2nd quarter valued at $40,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

Shares of PAYC opened at $232.29 on Friday. The stock has a market capitalization of $10.47 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. The business’s fifty day moving average price is $221.50 and its 200 day moving average price is $164.36. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07. Paycom Software, Inc. has a 12-month low of $104.90 and a 12-month high of $244.98.

Paycom Software (NYSE:PAYC – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the prior year, the business earned $2.06 earnings per share. Paycom Software’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Paycom Software, Inc. will post 10.64 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were issued a $0.3750 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, August 24th. Paycom Software’s dividend payout ratio is 15.94%.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of analyst reports. Cantor Fitzgerald upped their price target on Paycom Software from $135.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Weiss Ratings raised shares of Paycom Software from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. TD Cowen boosted their price objective on shares of Paycom Software from $244.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. BMO Capital Markets upped their price objective on shares of Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Finally, BTIG Research raised their target price on Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $216.93.

Check Out Our Latest Analysis on Paycom Software

Insider Buying and Selling

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 value of $57,856.87. Following the completion of the sale, the insider owned 69,911 shares of the company’s stock, valued at $16,783,533.77. This represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 13.20% of the stock is currently owned by corporate insiders.

Paycom Software Company Profile

(Free Report)

Paycom Software, Inc develops and provides cloud-based human capital management (HCM) software for businesses. Its platform is designed to help employers manage payroll and other workforce processes through a unified system, reducing the need for separate applications and manual data entry.

The company’s products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, talent management, employee benefits administration, expense management, and workforce analytics.

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