Paycom Software, Inc. (NYSE:PAYC) Stock Position Increased by Diversify Wealth Management LLC

Diversify Wealth Management LLC boosted its position in Paycom Software, Inc. (NYSE:PAYC) by 49.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,108 shares of the software maker’s stock after purchasing an additional 1,024 shares during the quarter. Diversify Wealth Management LLC’s holdings in Paycom Software were worth $511,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Sylebra Capital LLC lifted its position in Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after purchasing an additional 685,190 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after buying an additional 92,049 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Paycom Software by 14.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock worth $124,709,000 after buying an additional 79,299 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after buying an additional 529,591 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Paycom Software by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker’s stock worth $65,122,000 after buying an additional 26,934 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Price Performance

Paycom Software stock opened at $209.03 on Friday. The firm’s 50 day simple moving average is $166.62 and its 200-day simple moving average is $163.23. The company has a market cap of $12.00 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 2.45 and a beta of 1.17. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $247.42.

Paycom Software (NYSE:PAYC) last released its 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 business had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. Paycom Software had a net margin of 25.78% and a return on equity of 33.34%. On average, analysts expect that Paycom Software, Inc. will post 6.64 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is currently 18.05%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PAYC. Jefferies Financial Group boosted their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. TD Cowen boosted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Piper Sandler boosted their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $186.92.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $172.43, for a total transaction of $336,238.50. Following the transaction, the chief executive officer now directly owns 2,750,910 shares of the company’s stock, valued at approximately $474,339,411.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction that occurred 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 approximately $2,327,889.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $172.43, for a total transaction of $336,238.50. Following the transaction, the chief executive officer now directly owns 2,750,910 shares in the company, valued at $474,339,411.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,906 shares of company stock valued at $11,731,540 over the last ninety days. Corporate insiders own 14.50% of the company’s stock.

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.