Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 52.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,684 shares of the software maker’s stock after selling 1,842 shares during the quarter. Intech Investment Management LLC’s holdings in Paycom Software were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PAYC. Ashton Thomas Private Wealth LLC bought a new position in Paycom Software during the second quarter worth $25,000. Mather Group LLC. bought a new position in Paycom Software during the first quarter worth $26,000. MFA Wealth Advisors LLC bought a new position in Paycom Software during the second quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Paycom Software during the second quarter worth $27,000. Finally, Palisade Asset Management LLC bought a new position in Paycom Software during the first quarter worth $32,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insiders Place Their Bets

In other news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction dated 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 directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $171.30, for a total transaction of $334,035.00. Following the completion of the sale, the chief executive officer now directly owns 2,805,060 shares in the company, valued at approximately $480,506,778. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bradley Scott Smith sold 1,524 shares of the business’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 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 $2,327,889.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,856 shares of company stock worth $11,697,103. 14.50% of the stock is currently owned by company insiders.

Paycom Software Trading Up 0.2 %

Shares of PAYC opened at $167.80 on Friday. The business’s 50-day moving average price is $163.26 and its 200 day moving average price is $167.95. The stock has a market capitalization of $9.64 billion, a P/E ratio of 20.44, a P/E/G ratio of 2.46 and a beta of 1.17. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $279.96.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share 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 firm had revenue of $437.51 million for the quarter, compared to analysts’ expectations of $436.19 million. On average, research analysts predict that Paycom Software, Inc. will post 6.67 earnings per share for the current 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 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 0.89%. Paycom Software’s payout ratio is presently 18.27%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PAYC shares. TD Cowen raised their price objective on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Jefferies Financial Group cut their target price on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Citigroup cut their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Seventeen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus price target of $179.75.

Paycom Software Company 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.