Paycom Software, Inc. (NYSE:PAYC) Stake Lifted by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc raised its stake in Paycom Software, Inc. (NYSE:PAYC) by 41.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 56,578 shares of the software maker’s stock after buying an additional 16,586 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.10% of Paycom Software worth $8,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in shares of Paycom Software by 7.9% during the second quarter. Pacer Advisors Inc. now owns 4,397 shares of the software maker’s stock worth $629,000 after buying an additional 323 shares during the period. Canada Pension Plan Investment Board boosted its position in Paycom Software by 77.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 162,110 shares of the software maker’s stock worth $23,188,000 after acquiring an additional 70,591 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of Paycom Software by 15.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,907 shares of the software maker’s stock worth $702,000 after purchasing an additional 643 shares in the last quarter. ProVise Management Group LLC acquired a new position in shares of Paycom Software during the second quarter valued at $285,000. Finally, XTX Topco Ltd raised its stake in shares of Paycom Software by 111.2% during the second quarter. XTX Topco Ltd now owns 4,070 shares of the software maker’s stock valued at $582,000 after purchasing an additional 2,143 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PAYC. TD Cowen raised their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Jefferies Financial Group dropped their target price on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Citigroup lowered their price target on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Finally, Barclays upped their price objective on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Seventeen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $179.75.

Paycom Software Trading Up 0.7 %

PAYC stock opened at $173.72 on Wednesday. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $279.96. The firm has a 50-day moving average of $162.68 and a two-hundred day moving average of $168.07. The firm has a market capitalization of $10.09 billion, a PE ratio of 21.16, a P/E/G ratio of 2.39 and a beta of 1.17.

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

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.86%. The ex-dividend date was Monday, August 26th. Paycom Software’s payout ratio is 18.27%.

Insider Buying and Selling

In other Paycom Software 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 transaction, the insider now owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $142.01, for a total value of $276,919.50. Following the transaction, the chief executive officer now owns 3,037,358 shares in the company, valued at $431,335,209.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the sale, the insider now directly 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 valued at $11,641,723. Corporate insiders own 14.50% of the company’s stock.

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.