ProVise Management Group LLC Buys Shares of 1,995 Paycom Software, Inc. (NYSE:PAYC)

ProVise Management Group LLC purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,995 shares of the software maker’s stock, valued at approximately $285,000.

A number of other hedge funds have also recently modified their holdings of the business. Empirical Finance LLC raised its stake in Paycom Software by 3.9% during the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after acquiring an additional 60 shares during the period. Optas LLC raised its position in shares of Paycom Software by 6.1% during the 1st quarter. Optas LLC now owns 1,059 shares of the software maker’s stock valued at $211,000 after purchasing an additional 61 shares during the period. Wahed Invest LLC lifted its stake in shares of Paycom Software by 7.9% during the 4th quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock valued at $181,000 after buying an additional 64 shares in the last quarter. Andina Capital Management LLC boosted its holdings in Paycom Software by 4.5% in the 2nd quarter. Andina Capital Management LLC now owns 1,588 shares of the software maker’s stock worth $227,000 after buying an additional 68 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Paycom Software by 1.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock worth $661,000 after buying an additional 79 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the transaction, the insider now owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $140.46, for a total value of $273,897.00. Following the completion of the sale, the chief executive officer now owns 3,041,258 shares in the company, valued at $427,175,098.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the transaction, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,856 shares of company stock worth $11,532,113. 14.50% of the stock is currently owned by company insiders.

Paycom Software Stock Performance

NYSE:PAYC opened at $170.24 on Friday. The firm has a market capitalization of $9.78 billion, a PE ratio of 20.74, a PEG ratio of 2.39 and a beta of 1.17. The stock’s fifty day moving average is $162.09 and its 200 day moving average is $168.28. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $279.96.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The business had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. Equities analysts forecast that Paycom Software, Inc. will post 6.67 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were paid a dividend of $0.375 per share. The ex-dividend date was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.88%. Paycom Software’s dividend payout ratio is 18.27%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PAYC. Citigroup dropped their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Barclays increased their price objective on shares of Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Jefferies Financial Group lowered their target price on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Finally, TD Cowen boosted their price target on shares of Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $178.33.

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.