Ameriprise Financial Inc. decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 471,143 shares of the software maker’s stock after selling 42,575 shares during the quarter. Ameriprise Financial Inc. owned 0.78% of Paycom Software worth $143,138,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of PAYC. Compagnie Lombard Odier SCmA acquired a new position in Paycom Software during the fourth quarter worth about $26,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Paycom Software in the fourth quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of Paycom Software in the first quarter valued at approximately $26,000. HHM Wealth Advisors LLC increased its stake in shares of Paycom Software by 350.0% in the first quarter. HHM Wealth Advisors LLC now owns 90 shares of the software maker’s stock valued at $27,000 after buying an additional 70 shares during the period. Finally, KB Financial Partners LLC acquired a new position in shares of Paycom Software in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 88.69% of the company’s stock.
Analyst Upgrades and Downgrades
PAYC has been the subject of several recent research reports. Credit Suisse Group upped their price objective on Paycom Software from $375.00 to $395.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. William Blair initiated coverage on Paycom Software in a research note on Wednesday, June 28th. They issued an “outperform” rating for the company. Citigroup upped their price objective on Paycom Software from $361.00 to $428.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Paycom Software in a research note on Wednesday, August 2nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $400.00 target price on shares of Paycom Software in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $384.53.
Insider Buying and Selling
In related news, Director Jason D. Clark sold 130 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $287.36, for a total value of $37,356.80. Following the transaction, the director now directly owns 4,970 shares in the company, valued at approximately $1,428,179.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Jason D. Clark sold 130 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $287.36, for a total value of $37,356.80. Following the completion of the sale, the director now directly owns 4,970 shares of the company’s stock, valued at approximately $1,428,179.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher Gene Thomas sold 320 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $290.05, for a total value of $92,816.00. Following the completion of the sale, the executive vice president now directly owns 26,154 shares of the company’s stock, valued at $7,585,967.70. The disclosure for this sale can be found here. 14.50% of the stock is owned by company insiders.
Paycom Software Price Performance
Paycom Software stock opened at $277.92 on Friday. The stock has a market capitalization of $16.81 billion, a price-to-earnings ratio of 50.99, a PEG ratio of 1.94 and a beta of 1.42. Paycom Software, Inc. has a 52-week low of $262.11 and a 52-week high of $374.04. The stock’s 50 day moving average price is $311.76 and its two-hundred day moving average price is $299.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.24 and a current ratio of 1.24.
Paycom Software (NYSE:PAYC – Get Free Report) last issued its earnings results on Tuesday, August 1st. The software maker reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.22). Paycom Software had a return on equity of 24.93% and a net margin of 20.28%. The firm had revenue of $401.14 million during the quarter, compared to the consensus estimate of $398.20 million. On average, equities analysts predict that Paycom Software, Inc. will post 6.1 earnings per share for the current year.
Paycom Software Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Monday, August 28th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Friday, August 25th. Paycom Software’s dividend payout ratio is currently 27.52%.
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.
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