Mirae Asset Global Investments Co. Ltd. Purchases 825 Shares of Paycom Software, Inc. (NYSE:PAYC)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 10.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,442 shares of the software maker’s stock after acquiring an additional 825 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Paycom Software were worth $1,417,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Palisade Asset Management LLC acquired a new stake in Paycom Software in the 1st quarter valued at $32,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Paycom Software in the third quarter valued at about $26,000. Ashton Thomas Private Wealth LLC bought a new stake in Paycom Software during the second quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new position in Paycom Software during the second quarter valued at approximately $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Paycom Software in the second quarter valued at approximately $27,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $172.43, for a total value of $336,238.50. Following the transaction, the chief executive officer now directly owns 2,750,910 shares of the company’s stock, valued at $474,339,411.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $172.43, for a total value of $336,238.50. Following the transaction, the chief executive officer now owns 2,750,910 shares in the company, valued at approximately $474,339,411.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 1,524 shares of the 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 transaction, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. 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 $11,731,540 over the last quarter. 12.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PAYC. Jefferies Financial Group increased their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday. TD Cowen lifted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Barclays upped their target price on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, Citigroup upped their price objective on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $186.92.

Paycom Software Stock Up 21.4 %

NYSE PAYC opened at $209.03 on Friday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $247.42. The firm has a 50-day moving average price of $166.62 and a two-hundred day moving average price of $163.23. The company has a market capitalization of $12.00 billion, a P/E ratio of 25.18, a P/E/G ratio of 2.34 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. The business had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. Equities analysts expect that Paycom Software, Inc. will post 6.64 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is currently 18.07%.

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.