Benjamin F. Edwards & Company Inc. Raises Stake in Paycom Software, Inc. (NYSE:PAYC)

Benjamin F. Edwards & Company Inc. increased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 15.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,907 shares of the software maker’s stock after purchasing an additional 643 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Paycom Software were worth $702,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PAYC. ProVise Management Group LLC acquired a new stake in shares of Paycom Software in the second quarter worth $285,000. XTX Topco Ltd increased its holdings in Paycom Software by 111.2% in the 2nd quarter. XTX Topco Ltd now owns 4,070 shares of the software maker’s stock valued at $582,000 after purchasing an additional 2,143 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Paycom Software in the second quarter valued at about $234,000. Edgestream Partners L.P. lifted its stake in shares of Paycom Software by 209.1% during the second quarter. Edgestream Partners L.P. now owns 14,399 shares of the software maker’s stock worth $2,060,000 after purchasing an additional 9,741 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Paycom Software by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 262,803 shares of the software maker’s stock worth $37,591,000 after buying an additional 10,204 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the 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 sale, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were 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 owns 14,769 shares in the company, valued at approximately $2,327,889.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $171.30, for a total value of $334,035.00. Following the sale, the chief executive officer now directly owns 2,805,060 shares in the company, valued at approximately $480,506,778. The disclosure for this sale can be found here. Insiders sold 73,856 shares of company stock worth $11,641,723 in the last 90 days. 14.50% of the stock is currently owned by company insiders.

Paycom Software Price Performance

Paycom Software stock opened at $173.72 on Wednesday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $279.96. The company has a fifty day moving average price of $162.68 and a two-hundred day moving average price of $168.07. The company has a market cap of $10.09 billion, a PE ratio of 21.16, a P/E/G ratio of 2.39 and a beta of 1.17.

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

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. TD Cowen boosted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday. Jefferies Financial Group lowered their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Barclays raised their target price on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Seventeen 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.com, Paycom Software presently has an average rating of “Hold” and an average price target of $179.75.

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.