Meiji Yasuda Asset Management Co Ltd. Buys New Position in Paycom Software, Inc. (NYSE:PAYC)

Meiji Yasuda Asset Management Co Ltd. purchased a new position in Paycom Software, Inc. (NYSE:PAYC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,633 shares of the software maker’s stock, valued at approximately $234,000.

A number of other institutional investors have also recently made changes to their positions in PAYC. ARK & TLK Investments LLC bought a new position in Paycom Software in the fourth quarter valued at $2,260,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Paycom Software by 29.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after purchasing an additional 14,670 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Paycom Software by 17.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock valued at $11,790,000 after buying an additional 8,927 shares in the last quarter. Norges Bank bought a new stake in Paycom Software in the 4th quarter worth approximately $6,670,000. Finally, Sylebra Capital LLC bought a new stake in Paycom Software in the 1st quarter worth approximately $253,196,000. Institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $140.20, for a total value of $273,390.00. Following the sale, the chief executive officer now directly owns 3,023,708 shares of the company’s stock, valued at approximately $423,923,861.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 294,849 shares in the company, valued at approximately $45,990,547.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $140.20, for a total transaction of $273,390.00. Following the completion of the transaction, the chief executive officer now directly owns 3,023,708 shares of the company’s stock, valued at $423,923,861.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,856 shares of company stock valued at $11,532,113. Corporate insiders own 14.50% of the company’s stock.

Analyst Ratings Changes

PAYC has been the topic of several research reports. Barclays lifted 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. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Citigroup decreased their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Jefferies Financial Group dropped their target price on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Seventeen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $178.33.

Paycom Software Price Performance

PAYC stock opened at $170.24 on Friday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $279.96. The firm has a 50-day moving average of $162.09 and a 200 day moving average of $168.24. The company has a market cap of $9.89 billion, a P/E ratio of 20.74, a PEG ratio of 2.39 and a beta of 1.17.

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 firm had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. On average, equities research analysts expect that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed 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 0.88%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

About Paycom Software

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.