Paycom Software, Inc. (NYSE:PAYC) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd decreased its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,123 shares of the software maker’s stock after selling 687 shares during the period. IFM Investors Pty Ltd’s holdings in Paycom Software were worth $1,686,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in Paycom Software during the second quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in Paycom Software during the second quarter worth approximately $26,000. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the third quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Paycom Software during the second quarter worth approximately $27,000. Finally, Palisade Asset Management LLC acquired a new position in Paycom Software during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Price Performance

Shares of PAYC stock opened at $164.63 on Monday. The business’s fifty day moving average price is $165.06 and its 200 day moving average price is $163.60. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $253.33. The firm has a market capitalization of $9.45 billion, a PE ratio of 19.83, a P/E/G 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. The firm had revenue of $437.51 million for 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%. Equities research analysts expect that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $164.29, for a total transaction of $320,365.50. Following the sale, the chief executive officer now directly owns 2,760,660 shares in the company, valued at approximately $453,548,831.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $164.29, for a total transaction of $320,365.50. Following the sale, the chief executive officer now directly owns 2,760,660 shares in the company, valued at approximately $453,548,831.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bradley Scott Smith sold 1,524 shares of the company’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 in the company, valued at $2,327,889.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,956 shares of company stock worth $11,394,014. 14.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PAYC has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Barclays boosted their target price on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Jefferies Financial Group boosted their target price on Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, TD Cowen boosted their target price on 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus price target of $182.25.

About Paycom Software

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.