Kayne Anderson Rudnick Investment Management LLC Sells 8,058 Shares of Paycom Software, Inc. (NYSE:PAYC)

Kayne Anderson Rudnick Investment Management LLC decreased its position in Paycom Software, Inc. (NYSE:PAYC) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 187,022 shares of the software maker’s stock after selling 8,058 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.32% of Paycom Software worth $26,752,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PAYC. Ashton Thomas Private Wealth LLC bought a new position in shares of Paycom Software during the second quarter valued at $25,000. Mather Group LLC. bought a new position in shares of Paycom Software during the first quarter valued at $26,000. MFA Wealth Advisors LLC bought a new position in shares of Paycom Software during the second quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Paycom Software during the second quarter valued at $27,000. Finally, Palisade Asset Management LLC bought a new position in shares of Paycom Software during the first quarter valued at $32,000. Institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PAYC shares. Jefferies Financial Group reduced their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. Citigroup reduced their price target on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. TD Cowen increased their price objective on Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, Barclays increased their price objective on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $178.33.

Insider Activity

In other news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the transaction, the insider now directly owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the transaction, the insider now directly owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $155.98, for a total value of $1,853,354.36. Following the sale, the chief financial officer now directly owns 294,849 shares in the company, valued at approximately $45,990,547.02. The disclosure for this sale can be found here. Insiders have sold a total of 73,856 shares of company stock valued at $11,532,113 in the last ninety days. Corporate insiders own 14.50% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $170.24 on Friday. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.39 and a beta of 1.17. The stock’s 50-day simple moving average is $162.09 and its two-hundred day simple moving average is $168.24. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-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 (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.07. The business had revenue of $437.51 million for the quarter, compared to analysts’ expectations of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. As a group, equities analysts forecast that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were given 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 payout ratio is currently 18.27%.

Paycom Software Company 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.