Lafayette Investments Inc. Has $6.68 Million Holdings in Paycom Software, Inc. $PAYC

Lafayette Investments Inc. grew its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,850 shares of the software maker’s stock after buying an additional 510 shares during the quarter. Paycom Software makes up about 1.3% of Lafayette Investments Inc.’s investment portfolio, making the stock its 19th largest holding. Lafayette Investments Inc.’s holdings in Paycom Software were worth $6,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PAYC. von Borstel & Associates Inc. acquired a new stake in Paycom Software in the first quarter valued at approximately $27,000. SouthState Corp acquired a new stake in shares of Paycom Software in the 1st quarter valued at $27,000. Golden State Wealth Management LLC lifted its stake in shares of Paycom Software by 112.3% in the 1st 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 worth $37,000. Finally, Brooklyn Investment Group increased its position in Paycom Software by 19.4% during the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock worth $52,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PAYC shares. Barclays boosted their price target on Paycom Software from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. 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 research report on Wednesday, September 17th. TD Cowen raised shares of Paycom Software from a “hold” rating to a “buy” rating and lifted their price target for the company from $246.00 to $258.00 in a research report on Monday, September 22nd. BMO Capital Markets boosted their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Finally, KeyCorp raised their target price on shares of Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $245.62.

Insider Transactions at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the sale, the insider directly owned 24,533 shares of the company’s stock, valued at $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 10.90% of the company’s stock.

Paycom Software Price Performance

Shares of PAYC stock opened at $201.46 on Tuesday. Paycom Software, Inc. has a one year low of $162.62 and a one year high of $267.76. The stock has a fifty day moving average price of $215.88 and a 200 day moving average price of $228.43. The stock has a market cap of $11.66 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last posted its 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. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The business had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. During the same quarter in the prior year, the firm earned $1.62 EPS. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were issued a dividend of $0.375 per share. 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 payout ratio is currently 20.30%.

Paycom Software Profile

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.