Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 77.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 162,110 shares of the software maker’s stock after purchasing an additional 70,591 shares during the quarter. Canada Pension Plan Investment Board owned about 0.28% of Paycom Software worth $23,188,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sylebra Capital LLC acquired a new stake in Paycom Software in the 1st quarter valued at about $253,196,000. ValueAct Holdings L.P. purchased a new position in shares of Paycom Software during the 4th quarter worth about $125,686,000. Federated Hermes Inc. raised its stake in Paycom Software by 1,011.2% during the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after purchasing an additional 529,591 shares during the period. Raymond James & Associates raised its position in shares of Paycom Software by 769.2% in the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after buying an additional 178,198 shares during the period. Finally, Strategic Financial Concepts LLC grew its holdings in shares of Paycom Software by 12,268.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock valued at $242,000 after acquiring an additional 167,834 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Down 1.6 %

Shares of PAYC opened at $170.24 on Monday. The stock has a market cap of $9.89 billion, a PE ratio of 20.74, a PEG 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. The business has a 50-day simple moving average of $162.09 and a two-hundred day simple moving average of $168.19.

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

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. Paycom Software’s dividend payout ratio (DPR) is currently 18.27%.

Insider Transactions at Paycom Software

In related news, insider Bradley Scott Smith sold 1,524 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the sale, the insider now owns 14,769 shares of the company’s stock, valued at $2,327,889.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the transaction, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $142.01, for a total transaction of $276,919.50. Following the completion of the sale, the chief executive officer now owns 3,037,358 shares of the company’s stock, valued at approximately $431,335,209.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,906 shares of company stock valued at $11,248,427. Corporate insiders own 14.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PAYC shares. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. TD Cowen increased their price target on shares of Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group dropped their price objective 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, Barclays lifted their price target on shares of 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $178.33.

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.