Vest Financial LLC Acquires 10,873 Shares of Paycom Software, Inc. $PAYC

Vest Financial LLC grew its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,153 shares of the software maker’s stock after purchasing an additional 10,873 shares during the quarter. Vest Financial LLC owned about 0.30% of Paycom Software worth $40,068,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. SouthState Corp bought a new position in shares of Paycom Software during the 1st quarter valued at $27,000. von Borstel & Associates Inc. acquired a new position in Paycom Software during the 1st quarter worth $27,000. Golden State Wealth Management LLC lifted its position in Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock worth $30,000 after acquiring an additional 73 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in Paycom Software during the first quarter valued at about $35,000. Finally, S Bank Fund Management Ltd acquired a new stake in shares of Paycom Software in the first quarter valued at about $37,000. Institutional investors own 87.77% of the company’s stock.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PAYC shares. UBS Group lowered their target price on Paycom Software from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Guggenheim initiated coverage on shares of Paycom Software in a research report on Friday, September 26th. They issued a “buy” rating and a $270.00 price target on the stock. TD Cowen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and raised their price target for the stock from $246.00 to $258.00 in a research report on Monday, September 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Paycom Software in a research report on Wednesday, October 8th. Finally, Barclays raised their price target on shares of Paycom Software from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $241.77.

Paycom Software Stock Down 1.3%

NYSE:PAYC opened at $199.87 on Monday. The firm has a market cap of $11.57 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. Paycom Software, Inc. has a 12 month low of $161.24 and a 12 month high of $267.76. The company’s 50-day moving average price is $218.98 and its two-hundred day moving average price is $229.02.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.28. The firm had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. On average, research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, August 25th. Paycom Software’s dividend payout ratio is presently 20.30%.

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.