Aurora Investment Counsel Sells 3,731 Shares of Paycom Software, Inc. $PAYC

Aurora Investment Counsel lowered its stake in Paycom Software, Inc. (NYSE:PAYC) by 29.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,884 shares of the software maker’s stock after selling 3,731 shares during the quarter. Aurora Investment Counsel’s holdings in Paycom Software were worth $2,056,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAYC. von Borstel & Associates Inc. bought a new stake in Paycom Software in the first quarter valued at approximately $27,000. SouthState Corp bought a new stake in Paycom Software in the first quarter valued at approximately $27,000. Golden State Wealth Management LLC lifted its position in Paycom Software by 112.3% in the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. S Bank Fund Management Ltd bought a new stake in Paycom Software in the first quarter valued at approximately $37,000. Finally, Brooklyn Investment Group lifted its position in Paycom Software by 19.4% in the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Jefferies Financial Group lowered their price objective on Paycom Software from $250.00 to $225.00 and set a “hold” rating for the company in a research report on Monday, October 13th. UBS Group decreased their target price on Paycom Software from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Weiss Ratings restated a “hold (c)” rating on shares of Paycom Software in a report on Wednesday, October 8th. Guggenheim initiated coverage on Paycom Software in a report on Friday, September 26th. They set a “buy” rating and a $270.00 target price for the company. Finally, KeyCorp upped their target price on Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $245.62.

Insiders Place Their Bets

In related news, insider Bradley Scott Smith sold 1,500 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the sale, the insider directly owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.90% of the stock is currently owned by insiders.

Paycom Software Stock Up 0.4%

Shares of PAYC stock opened at $201.46 on Tuesday. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 2.20 and a beta of 0.82. The business’s fifty day moving average is $215.88 and its 200 day moving average is $228.43. Paycom Software, Inc. has a twelve month low of $162.62 and a twelve month high of $267.76.

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

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a 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.