Edgestream Partners L.P. Grows Position in Paycom Software, Inc. (NYSE:PAYC)

Edgestream Partners L.P. lifted its position in Paycom Software, Inc. (NYSE:PAYC) by 209.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 14,399 shares of the software maker’s stock after purchasing an additional 9,741 shares during the period. Edgestream Partners L.P.’s holdings in Paycom Software were worth $2,060,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PAYC. Empirical Finance LLC raised its position in Paycom Software by 3.9% during the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock valued at $314,000 after purchasing an additional 60 shares during the last quarter. Optas LLC increased its stake in shares of 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 buying an additional 61 shares during the period. Wahed Invest LLC raised its holdings in shares of 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 acquiring an additional 64 shares in the last quarter. Andina Capital Management LLC lifted its stake 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 acquiring an additional 68 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings 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 valued at $661,000 after acquiring an additional 79 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PAYC has been the subject of several research reports. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Barclays increased 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 note on Thursday, August 1st. 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. Citigroup reduced their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Finally, TD Cowen raised their target price on Paycom Software from $147.00 to $171.00 and gave the company 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 given a buy rating to the company. Based on data from MarketBeat, Paycom Software presently has a consensus rating of “Hold” and an average price target of $178.33.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $140.46, for a total value of $273,897.00. Following the transaction, the chief executive officer now owns 3,041,258 shares of the company’s stock, valued at $427,175,098.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 3,041,258 shares of the company’s stock, valued at approximately $427,175,098.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of Paycom Software 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 transaction, the insider now directly owns 14,769 shares in the company, valued at $2,327,889.78. The disclosure for this sale can be found here. Insiders have sold a total of 73,856 shares of company stock worth $11,532,113 over the last quarter. Company insiders own 14.50% of the company’s stock.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $172.91 on Friday. The business has a fifty day moving average price of $161.66 and a 200-day moving average price of $168.34. The company has a market capitalization of $10.05 billion, a PE ratio of 21.06, a PEG ratio of 2.37 and a beta of 1.17. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $279.96.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates 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%. On average, sell-side analysts anticipate that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s dividend 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.