Paycom Software, Inc. (NYSE:PAYC) Shares Bought by First Foundation Advisors

First Foundation Advisors grew its position in Paycom Software, Inc. (NYSE:PAYC) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,581 shares of the software maker’s stock after buying an additional 765 shares during the period. First Foundation Advisors’ holdings in Paycom Software were worth $1,514,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Oak Thistle LLC purchased a new stake in Paycom Software in the 2nd quarter valued at about $482,000. Custom Index Systems LLC raised its stake in shares of Paycom Software by 45.1% in the 2nd quarter. Custom Index Systems LLC now owns 2,398 shares of the software maker’s stock valued at $343,000 after acquiring an additional 745 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Paycom Software by 6,167.0% in the 2nd quarter. Acadian Asset Management LLC now owns 65,051 shares of the software maker’s stock worth $9,297,000 after acquiring an additional 64,013 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Paycom Software by 12,268.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock worth $242,000 after purchasing an additional 167,834 shares during the period. Finally, Candriam S.C.A. increased its holdings in Paycom Software by 13.5% in the 2nd quarter. Candriam S.C.A. now owns 4,478 shares of the software maker’s stock valued at $641,000 after purchasing an additional 534 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Transactions at Paycom Software

In related news, insider Jason D. Clark sold 906 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $143.61, for a total value of $130,110.66. Following the transaction, the insider now directly owns 43,367 shares of the company’s stock, valued at approximately $6,227,934.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Paycom Software news, 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 in the company, valued at $2,327,889.78. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jason D. Clark sold 906 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $143.61, for a total value of $130,110.66. Following the completion of the sale, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,812 shares of company stock worth $11,199,274. 14.50% of the stock is currently owned by insiders.

Paycom Software Stock Performance

NYSE:PAYC opened at $163.86 on Tuesday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $287.60. The stock has a market cap of $9.41 billion, a P/E ratio of 19.96, a P/E/G ratio of 2.19 and a beta of 1.17. The stock has a 50-day simple moving average of $157.27 and a 200-day simple moving average of $168.90.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were issued 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 0.92%. Paycom Software’s payout ratio is currently 18.27%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PAYC. Barclays raised their price target on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Citigroup cut their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. TD Cowen raised their price objective on shares of Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group cut their target price on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $178.33.

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.