Mount Yale Investment Advisors LLC Purchases 3,604 Shares of Paycom Software, Inc. (NYSE:PAYC)

Mount Yale Investment Advisors LLC increased its position in Paycom Software, Inc. (NYSE:PAYC) by 82.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,985 shares of the software maker’s stock after buying an additional 3,604 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Paycom Software were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Mather Group LLC. purchased a new position in shares of Paycom Software in the first quarter worth about $26,000. Palisade Asset Management LLC purchased a new position in Paycom Software in the 1st quarter worth approximately $32,000. Ashton Thomas Private Wealth LLC bought a new stake in Paycom Software in the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Paycom Software during the second quarter valued at approximately $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Paycom Software in the second quarter worth approximately $27,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Down 1.6 %

Shares of PAYC stock opened at $170.24 on Monday. The company’s fifty day moving average price is $162.09 and its 200-day moving average price is $168.19. The stock has a market cap of $9.89 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.39 and a beta of 1.17. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $279.96.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $436.19 million. On average, sell-side 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. Shareholders of record on Monday, August 26th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Monday, August 26th. Paycom Software’s payout ratio is 18.27%.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $170.19, for a total value of $331,870.50. Following the sale, the chief executive officer now directly owns 2,810,910 shares of the company’s stock, valued at $478,388,772.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Craig E. Boelte sold 11,882 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 294,849 shares in the company, valued at approximately $45,990,547.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.19, for a total value of $331,870.50. Following the sale, the chief executive officer now owns 2,810,910 shares in the company, valued at $478,388,772.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,906 shares of company stock valued at $11,248,427. 14.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PAYC. Barclays upped their price target 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. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. TD Cowen boosted their price target on Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Citigroup dropped their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Finally, Jefferies Financial Group cut their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $178.33.

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.