2,002 Paycom Software, Inc. $PAYC Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd lowered its position in Paycom Software, Inc. (NYSE:PAYC) by 1.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 153,432 shares of the software maker’s stock after selling 2,002 shares during the period. Ninety One UK Ltd owned 0.34% of Paycom Software worth $33,394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYC. Elevation Wealth Partners LLC grew its holdings in shares of Paycom Software by 76.5% during the third quarter. Elevation Wealth Partners LLC now owns 233 shares of the software maker’s stock worth $51,000 after buying an additional 101 shares in the last quarter. Caitlin John LLC acquired a new stake in shares of Paycom Software in the second quarter valued at about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Paycom Software in the second quarter valued at about $33,000. EFG International AG purchased a new position in shares of Paycom Software in the second quarter worth about $36,000. Finally, Trust Co. of Vermont purchased a new position in shares of Paycom Software in the second quarter worth about $40,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of recent research reports. Zacks Research lowered shares of Paycom Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. TD Cowen upped their price objective on shares of Paycom Software from $244.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. BMO Capital Markets increased their price objective on shares of Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Bank of America initiated coverage on shares of Paycom Software in a report on Tuesday, September 29th. They issued an “underperform” rating and a $200.00 price objective for the company. Finally, Guggenheim raised their target price on shares of Paycom Software from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $219.79.

Insider Activity at Paycom Software

In other news, insider Shane Hadlock sold 2,577 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total value of $612,295.20. Following the transaction, the insider owned 70,152 shares of the company’s stock, valued at $16,668,115.20. This represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.20% of the stock is currently owned by company insiders.

Paycom Software Stock Up 5.4%

PAYC stock opened at $251.94 on Friday. The firm has a market cap of $11.35 billion, a PE ratio of 26.77, a PEG ratio of 1.30 and a beta of 0.82. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s 50 day moving average price is $226.04 and its 200-day moving average price is $168.04. Paycom Software, Inc. has a one year low of $104.90 and a one year high of $252.87.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. The firm had revenue of $531.20 million for the quarter, compared to analysts’ expectations of $513.12 million. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.06 earnings per share. On average, equities research analysts anticipate that Paycom Software, Inc. will post 10.64 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were paid a $0.3750 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, August 24th. Paycom Software’s dividend payout ratio is 15.94%.

Paycom Software Profile

Paycom Software, Inc develops and provides cloud-based human capital management (HCM) software for businesses. Its platform is designed to help employers manage payroll and other workforce processes through a unified system, reducing the need for separate applications and manual data entry.

The company’s products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, talent management, employee benefits administration, expense management, and workforce analytics.