Verdence Capital Advisors LLC Invests $558,000 in Paycom Software, Inc. (NYSE:PAYC)

Verdence Capital Advisors LLC bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,900 shares of the software maker’s stock, valued at approximately $558,000.

Other hedge funds also recently bought and sold shares of the company. Sylebra Capital LLC acquired a new position in shares of Paycom Software during the first quarter valued at about $253,196,000. ValueAct Holdings L.P. acquired a new position in Paycom Software during the 4th quarter worth about $125,686,000. Raymond James & Associates grew its stake in shares of Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock valued at $28,803,000 after purchasing an additional 178,198 shares during the last quarter. Sather Financial Group Inc bought a new position in Paycom Software in the 2nd quarter valued at $23,519,000. Finally, Jacobs Levy Equity Management Inc. increased its position in Paycom Software by 145.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 268,692 shares of the software maker’s stock worth $53,472,000 after purchasing an additional 159,435 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

Paycom Software stock traded up $1.75 during midday trading on Monday, reaching $164.61. 447,157 shares of the company’s stock were exchanged, compared to its average volume of 847,711. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $299.00. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 2.22 and a beta of 1.16. The stock’s 50-day simple moving average is $153.21 and its 200 day simple moving average is $171.06.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Monday, August 26th. Paycom Software’s dividend payout ratio is 18.27%.

Insider Buying and Selling

In other Paycom Software news, insider Jason D. Clark sold 906 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $143.61, for a total transaction of $130,110.66. Following the completion of the sale, the insider now directly owns 43,367 shares in the company, valued at approximately $6,227,934.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Jason D. Clark sold 906 shares of the stock in a transaction on Friday, June 14th. The stock was 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 approximately $6,227,934.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value 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. The disclosure for this sale can be found here. Insiders have sold 80,043 shares of company stock worth $12,258,650 in the last 90 days. Insiders own 14.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PAYC shares. Barclays raised their target price on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. TD Cowen lifted their target price on Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Citigroup cut their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, William Blair reiterated a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.