Paycom Software, Inc. (NYSE:PAYC) Stake Lessened by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC lessened its holdings in Paycom Software, Inc. (NYSE:PAYC) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,330 shares of the software maker’s stock after selling 331 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Paycom Software were worth $545,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PAYC. Sylebra Capital LLC purchased a new stake in Paycom Software in the 1st quarter worth approximately $253,196,000. Federated Hermes Inc. raised its holdings in shares of 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 acquiring an additional 529,591 shares in the last quarter. Raymond James & Associates boosted its position in Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock valued at $28,803,000 after purchasing an additional 178,198 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in Paycom Software by 12,268.6% in the second quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock valued at $242,000 after purchasing an additional 167,834 shares in the last quarter. Finally, Sather Financial Group Inc acquired a new position in Paycom Software in the 2nd quarter worth about $23,519,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

PAYC has been the subject of several research reports. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. TD Cowen lifted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Jefferies Financial Group decreased their price objective 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. Finally, Barclays increased their target price on shares of Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and an average target price of $180.17.

Insiders Place Their Bets

In other news, CFO Craig E. Boelte sold 11,882 shares of the company’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 transaction, the chief financial officer now owns 294,849 shares of the company’s stock, valued at approximately $45,990,547.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $155.85, for a total value of $303,907.50. Following the sale, the chief executive officer now owns 3,010,058 shares of the company’s stock, valued at $469,117,539.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction 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 owns 294,849 shares of the company’s stock, valued at approximately $45,990,547.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,906 shares of company stock worth $11,669,140 in the last ninety days. Insiders own 14.50% of the company’s stock.

Paycom Software Stock Performance

NYSE PAYC opened at $163.57 on Thursday. The stock has a market capitalization of $9.51 billion, a PE ratio of 19.92, a P/E/G ratio of 2.31 and a beta of 1.17. The stock has a 50-day simple moving average of $163.92 and a 200 day simple moving average of $165.28. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $275.67.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. The company 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%. As a group, equities research analysts forecast 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 given a $0.375 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.92%. Paycom Software’s dividend payout ratio is 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.