Westpac Banking Corp Decreases Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Westpac Banking Corp lowered its stake in Paycom Software, Inc. (NYSE:PAYC) by 97.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101 shares of the software maker’s stock after selling 4,005 shares during the quarter. Westpac Banking Corp’s holdings in Paycom Software were worth $32,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. US Bancorp DE lifted its stake in Paycom Software by 225.2% in the 2nd quarter. US Bancorp DE now owns 73,093 shares of the software maker’s stock worth $23,480,000 after purchasing an additional 50,619 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Paycom Software by 23.9% during the 2nd quarter. Private Advisor Group LLC now owns 1,349 shares of the software maker’s stock valued at $433,000 after buying an additional 260 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Paycom Software by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 281,738 shares of the software maker’s stock valued at $90,506,000 after buying an additional 4,718 shares in the last quarter. Citigroup Inc. raised its position in shares of Paycom Software by 35.7% during the 2nd quarter. Citigroup Inc. now owns 57,496 shares of the software maker’s stock valued at $18,470,000 after buying an additional 15,122 shares in the last quarter. Finally, Summit X LLC purchased a new stake in shares of Paycom Software during the 2nd quarter valued at about $211,000. Hedge funds and other institutional investors own 88.69% of the company’s stock.

Paycom Software Trading Up 2.8 %

NYSE:PAYC opened at $182.44 on Tuesday. Paycom Software, Inc. has a 52 week low of $146.15 and a 52 week high of $374.04. The firm has a 50 day moving average of $237.35 and a 200 day moving average of $281.93. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 1.43 and a beta of 1.40.

Paycom Software (NYSE:PAYC) last posted its earnings results on Tuesday, October 31st. The software maker reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.16. Paycom Software had a net margin of 20.80% and a return on equity of 25.02%. The company had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $411.17 million. During the same quarter in the prior year, the company posted $0.92 earnings per share. Paycom Software’s revenue for the quarter was up 21.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 6.03 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be given a dividend of $0.375 per share. The ex-dividend date is Friday, November 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.82%. Paycom Software’s payout ratio is 25.64%.

Insider Activity at Paycom Software

In related news, Director J C. Watts, Jr. purchased 314 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was acquired at an average price of $159.20 per share, with a total value of $49,988.80. Following the completion of the acquisition, the director now owns 6,864 shares in the company, valued at approximately $1,092,748.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Paycom Software news, Director Jason D. Clark sold 130 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $287.36, for a total value of $37,356.80. Following the completion of the transaction, the director now owns 4,970 shares of the company’s stock, valued at $1,428,179.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director J C. Watts, Jr. bought 314 shares of Paycom Software stock in a transaction that occurred on Friday, November 3rd. The shares were acquired at an average cost of $159.20 per share, with a total value of $49,988.80. Following the acquisition, the director now owns 6,864 shares of the company’s stock, valued at $1,092,748.80. The disclosure for this purchase can be found here. 14.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PAYC has been the topic of several recent research reports. Oppenheimer restated a “market perform” rating on shares of Paycom Software in a research report on Wednesday, November 1st. Citigroup lowered shares of Paycom Software from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $360.00 to $189.00 in a research report on Wednesday, November 1st. TheStreet lowered shares of Paycom Software from a “b-” rating to a “c+” rating in a research report on Friday, August 18th. BMO Capital Markets reduced their price objective on shares of Paycom Software from $320.00 to $190.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 1st. Finally, Stifel Nicolaus lowered shares of Paycom Software from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $400.00 to $160.00 in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $273.12.

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.