Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 36.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,400 shares of the software maker’s stock after buying an additional 7,006 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Paycom Software were worth $8,192,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in Paycom Software by 47.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 877,824 shares of the software maker’s stock worth $304,061,000 after acquiring an additional 283,892 shares during the last quarter. Franklin Resources Inc. increased its stake in Paycom Software by 38.8% in the 4th quarter. Franklin Resources Inc. now owns 930,401 shares of the software maker’s stock worth $288,713,000 after acquiring an additional 260,146 shares during the last quarter. Balyasny Asset Management LLC increased its stake in Paycom Software by 456.2% in the 3rd quarter. Balyasny Asset Management LLC now owns 213,415 shares of the software maker’s stock worth $70,425,000 after acquiring an additional 175,042 shares during the last quarter. Eagle Asset Management Inc. increased its stake in Paycom Software by 45.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 390,838 shares of the software maker’s stock worth $128,972,000 after acquiring an additional 121,943 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Paycom Software by 8.7% in the 1st quarter. Wellington Management Group LLP now owns 1,359,073 shares of the software maker’s stock worth $470,756,000 after acquiring an additional 108,505 shares during the last quarter. 88.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Paycom Software

In related news, Director Jason D. Clark sold 1,070 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $278.33, for a total value of $297,813.10. Following the completion of the sale, the director now owns 4,741 shares of the company’s stock, valued at $1,319,562.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 14.50% of the company’s stock.

Paycom Software Stock Performance

NYSE PAYC opened at $279.02 on Friday. The company has a market cap of $16.82 billion, a PE ratio of 52.35, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The stock’s 50 day simple moving average is $285.56 and its 200-day simple moving average is $302.54. Paycom Software, Inc. has a 1-year low of $255.82 and a 1-year high of $402.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.19 and a quick ratio of 1.19.

Paycom Software (NYSE:PAYC – Get Rating) last released its earnings results on Tuesday, May 2nd. The software maker reported $2.06 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.06. The business had revenue of $451.64 million for the quarter, compared to the consensus estimate of $444.23 million. Paycom Software had a return on equity of 26.29% and a net margin of 20.96%. As a group, equities research analysts anticipate that Paycom Software, Inc. will post 6.17 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Tuesday, May 30th will be issued a $0.375 dividend. The ex-dividend date is Friday, May 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.54%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PAYC shares. BMO Capital Markets boosted their target price on Paycom Software from $289.00 to $302.00 in a research report on Wednesday, May 3rd. KeyCorp lowered their target price on Paycom Software from $432.00 to $405.00 in a report on Wednesday, May 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on Paycom Software from $400.00 to $370.00 in a report on Wednesday, May 3rd. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Oppenheimer boosted their price target on Paycom Software from $360.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $368.53.

Paycom Software Profile

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Paycom Software, Inc engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.