Paycom Software, Inc. $PAYC Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC decreased its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 20.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,102 shares of the software maker’s stock after selling 285 shares during the quarter. HB Wealth Management LLC’s holdings in Paycom Software were worth $255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PAYC. Kingsview Wealth Management LLC lifted its position in shares of Paycom Software by 8.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker’s stock valued at $323,000 after buying an additional 114 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Paycom Software by 57.1% in the 1st quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker’s stock valued at $587,000 after purchasing an additional 976 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Paycom Software by 54.5% in the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock valued at $198,000 after purchasing an additional 319 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Paycom Software in the 1st quarter valued at $690,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Paycom Software by 15.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker’s stock valued at $220,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

PAYC has been the topic of a number of research reports. KeyCorp raised their price objective on Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. BMO Capital Markets lifted their price target on Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Paycom Software in a report on Saturday, September 27th. TD Cowen upgraded Paycom Software from a “hold” rating to a “buy” rating and lifted their price target for the stock from $246.00 to $258.00 in a report on Monday, September 22nd. Finally, Cantor Fitzgerald upgraded Paycom Software to a “hold” rating in a report on Thursday, September 11th. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Paycom Software presently has an average rating of “Hold” and an average target price of $241.77.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $223.27, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.90% of the stock is currently owned by insiders.

Paycom Software Stock Up 1.7%

PAYC stock opened at $203.54 on Wednesday. The business has a 50 day moving average price of $220.71 and a 200 day moving average price of $229.42. The stock has a market cap of $11.78 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.20 and a beta of 0.82. Paycom Software, Inc. has a fifty-two week low of $159.82 and a fifty-two week high of $267.76.

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

Paycom Software Dividend Announcement

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

Paycom Software Profile

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.