Confluence Investment Management LLC Sells 33,360 Shares of Paycom Software, Inc. $PAYC

Confluence Investment Management LLC lessened its position in Paycom Software, Inc. (NYSE:PAYC) by 8.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 374,387 shares of the software maker’s stock after selling 33,360 shares during the quarter. Confluence Investment Management LLC’s holdings in Paycom Software were worth $47,053,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its position in Paycom Software by 190.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock valued at $25,000 after buying an additional 101 shares during the period. Clearstead Advisors LLC grew its position in shares of Paycom Software by 140.3% in the 4th quarter. Clearstead Advisors LLC now owns 161 shares of the software maker’s stock worth $26,000 after buying an additional 94 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in shares of Paycom Software in the 2nd quarter worth about $29,000. MUFG Securities EMEA plc bought a new position in shares of Paycom Software in the 2nd quarter worth about $33,000. Finally, Palisade Asset Management LLC bought a new position in shares of Paycom Software in the 3rd quarter worth about $33,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Up 2.8%

Shares of Paycom Software stock opened at $168.60 on Tuesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $8.03 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.39 and a beta of 0.75. Paycom Software, Inc. has a 52-week low of $104.90 and a 52-week high of $248.95. The company has a 50-day simple moving average of $139.71 and a two-hundred day simple moving average of $133.35.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $0.16. The firm had revenue of $571.80 million for the quarter, compared to analysts’ expectations of $564.37 million. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.80 earnings per share. On average, analysts anticipate that Paycom Software, Inc. will post 9.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several research reports. Weiss Ratings raised shares of Paycom Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. Zacks Research raised shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. BTIG Research lifted their target price on shares of Paycom Software from $140.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, May 7th. BMO Capital Markets boosted their price target on Paycom Software from $137.00 to $145.00 and gave the stock a “market perform” rating in a research report on Thursday, May 7th. Finally, Mizuho upped their price target on Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Paycom Software has an average rating of “Moderate Buy” and a consensus price target of $159.75.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.