NewEdge Advisors LLC Grows Stake in Paycom Software, Inc. (NYSE:PAYC)

NewEdge Advisors LLC grew its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 191.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,394 shares of the software maker’s stock after buying an additional 7,491 shares during the quarter. NewEdge Advisors LLC’s holdings in Paycom Software were worth $1,630,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empirical Finance LLC increased its holdings in Paycom Software by 3.9% during the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock valued at $314,000 after buying an additional 60 shares during the last quarter. Optas LLC lifted its position in Paycom Software by 6.1% during the first quarter. Optas LLC now owns 1,059 shares of the software maker’s stock valued at $211,000 after purchasing an additional 61 shares in the last quarter. Wahed Invest LLC grew its holdings in Paycom Software by 7.9% during the fourth quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock valued at $181,000 after purchasing an additional 64 shares during the period. Andina Capital Management LLC increased its position in Paycom Software by 4.5% in the second 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 in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Paycom Software by 1.7% in the second 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.

Insiders Place Their Bets

In other news, 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 transaction of $1,853,354.36. Following the completion of the transaction, the chief financial officer now directly owns 294,849 shares of the company’s stock, valued at $45,990,547.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the sale, the chief financial officer now directly owns 294,849 shares of the company’s stock, valued at $45,990,547.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $140.20, for a total value of $273,390.00. Following the completion of the transaction, the chief executive officer now owns 3,023,708 shares of the company’s stock, valued at approximately $423,923,861.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,856 shares of company stock worth $11,841,695. Corporate insiders own 14.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PAYC. TD Cowen boosted their price objective on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Barclays upped their price target on shares of Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Citigroup dropped their target price on shares of 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 target on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Seventeen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $179.75.

Paycom Software Price Performance

NYSE:PAYC opened at $167.97 on Friday. The company’s fifty day moving average price is $163.73 and its 200-day moving average price is $167.01. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $279.96. The firm has a market capitalization of $9.76 billion, a P/E ratio of 20.46, a PEG ratio of 2.37 and a beta of 1.17.

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

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s payout ratio is presently 18.27%.

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.