Paycom Software, Inc. $PAYC Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. trimmed its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 40,254 shares of the software maker’s stock after selling 583 shares during the quarter. Logan Capital Management Inc.’s holdings in Paycom Software were worth $9,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PAYC. SouthState Corp acquired a new position in Paycom Software during the first quarter valued at $27,000. von Borstel & Associates Inc. purchased a new position in shares of Paycom Software during the 1st quarter valued at about $27,000. Golden State Wealth Management LLC raised its stake in shares of Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after buying an additional 73 shares during the last quarter. S Bank Fund Management Ltd acquired a new position in shares of Paycom Software in the 1st quarter valued at about $37,000. Finally, Brooklyn Investment Group boosted its stake in shares of Paycom Software by 19.4% in the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock worth $52,000 after buying an additional 39 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group reduced their price target on Paycom Software from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Jefferies Financial Group dropped their price objective on shares of Paycom Software from $250.00 to $225.00 and set a “hold” rating on the stock in a research note on Monday, October 13th. TD Cowen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and boosted their target price for the company from $246.00 to $258.00 in a research note on Monday, September 22nd. Zacks Research downgraded shares of Paycom Software from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paycom Software in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $243.69.

Insiders Place Their Bets

In related news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the sale, the insider directly owned 24,533 shares in the company, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.90% of the company’s stock.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $200.24 on Tuesday. The business’s 50 day moving average price is $214.19 and its 200-day moving average price is $228.36. Paycom Software, Inc. has a 1 year low of $165.18 and a 1 year high of $267.76. The firm has a market capitalization of $11.59 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.28. The company had revenue of $483.60 million during the quarter, compared to analysts’ expectations of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. On average, sell-side analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, August 25th. Paycom Software’s dividend payout ratio is 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.