Paycom Software, Inc. $PAYC Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC boosted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,239 shares of the software maker’s stock after purchasing an additional 76 shares during the quarter. Parallel Advisors LLC’s holdings in Paycom Software were worth $287,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PAYC. Thurston Springer Miller Herd & Titak Inc. grew its stake in Paycom Software by 188.6% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 681 shares of the software maker’s stock worth $158,000 after buying an additional 445 shares during the last quarter. Michael S. Ryan Inc. lifted its holdings in shares of Paycom Software by 3.2% in the second quarter. Michael S. Ryan Inc. now owns 2,886 shares of the software maker’s stock valued at $668,000 after buying an additional 90 shares during the period. Inspire Investing LLC acquired a new stake in shares of Paycom Software in the first quarter valued at $2,202,000. Strs Ohio acquired a new stake in shares of Paycom Software in the first quarter valued at $728,000. Finally, GK Wealth Management LLC acquired a new stake in shares of Paycom Software in the first quarter valued at $599,000. 87.77% of the stock is currently owned by institutional investors.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the sale, the insider owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PAYC shares. UBS Group cut their price objective on Paycom Software from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Cantor Fitzgerald raised Paycom Software to a “hold” rating in a report on Thursday, September 11th. BMO Capital Markets upped their target price on Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. Barclays increased their price objective on Paycom Software from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Finally, KeyCorp increased their price objective on Paycom Software from $285.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus price target of $238.58.

Paycom Software Stock Down 0.1%

PAYC opened at $216.32 on Monday. The firm has a market capitalization of $12.52 billion, a P/E ratio of 29.27, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81. The stock’s 50 day moving average price is $225.68 and its two-hundred day moving average price is $229.73. Paycom Software, Inc. has a 12-month low of $158.03 and a 12-month high of $267.76.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.28. The firm had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. As a group, analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were issued a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. Paycom Software’s dividend payout ratio (DPR) is 20.30%.

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.