Valley National Advisers Inc. Acquires Shares of 10,630 Paycom Software, Inc. (NYSE:PAYC)

Valley National Advisers Inc. purchased a new position in Paycom Software, Inc. (NYSE:PAYC) during the 3rd quarter, Holdings Channel reports. The fund purchased 10,630 shares of the software maker’s stock, valued at approximately $1,770,000.

Other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in 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 period. Janney Montgomery Scott LLC increased its position in 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 purchasing an additional 8,927 shares during the period. Sylebra Capital LLC purchased a new position in Paycom Software during the 1st quarter valued at about $253,196,000. Profund Advisors LLC purchased a new position in Paycom Software during the 2nd quarter valued at about $589,000. Finally, BOKF NA increased its position in Paycom Software by 453.0% during the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock valued at $1,828,000 after purchasing an additional 7,552 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $171.30, for a total value of $334,035.00. Following the completion of the sale, the chief executive officer now owns 2,805,060 shares of the company’s stock, valued at approximately $480,506,778. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the sale, the insider now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $171.30, for a total transaction of $334,035.00. Following the sale, the chief executive officer now directly owns 2,805,060 shares in the company, valued at approximately $480,506,778. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,906 shares of company stock valued at $11,716,837 in the last three months. 14.50% of the stock is currently owned by corporate insiders.

Paycom Software Stock Down 0.3 %

PAYC stock opened at $164.63 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $253.33. The firm has a 50 day moving average of $165.06 and a 200 day moving average of $163.60. The stock has a market capitalization of $9.45 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.35 and a beta of 1.17.

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

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is 18.07%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PAYC shares. Jefferies Financial Group raised their target price on shares of Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Barclays raised their price target on shares of Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Finally, TD Cowen raised their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $182.25.

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.