Paycom Software, Inc. $PAYC Stock Sold by State of Wyoming

State of Wyoming lessened its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 90.6% during the third quarter, HoldingsChannel reports. The firm owned 293 shares of the software maker’s stock after selling 2,830 shares during the quarter. State of Wyoming’s holdings in Paycom Software were worth $64,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PAYC. Childress Capital Advisors LLC grew its holdings in Paycom Software by 1.4% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,951 shares of the software maker’s stock valued at $642,000 after buying an additional 42 shares during the period. Archford Capital Strategies LLC raised its stake in Paycom Software by 1.1% during the second quarter. Archford Capital Strategies LLC now owns 4,684 shares of the software maker’s stock worth $589,000 after purchasing an additional 49 shares during the period. CX Institutional boosted its holdings in shares of Paycom Software by 4.7% in the 3rd quarter. CX Institutional now owns 1,399 shares of the software maker’s stock valued at $304,000 after purchasing an additional 63 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Paycom Software by 2.6% during the 3rd quarter. Versant Capital Management Inc now owns 2,689 shares of the software maker’s stock valued at $585,000 after buying an additional 69 shares during the period. Finally, Signaturefd LLC raised its position in shares of Paycom Software by 3.4% in the 3rd quarter. Signaturefd LLC now owns 2,547 shares of the software maker’s stock worth $554,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling

In other news, insider Shane Hadlock sold 2,577 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total transaction of $612,295.20. Following the sale, the insider directly owned 70,152 shares in the company, valued at approximately $16,668,115.20. This represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.20% of the stock is currently owned by insiders.

Paycom Software Trading Up 2.3%

NYSE PAYC opened at $248.28 on Friday. The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 1.08 and a beta of 0.75. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $275.22. The company’s fifty day moving average price is $238.57 and its two-hundred day moving average price is $168.55. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.06 and a quick ratio of 1.06.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, November 4th. The software maker reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.56. Paycom Software had a return on equity of 52.12% and a net margin of 23.28%. The company had revenue of $543.80 million for the quarter, compared to the consensus estimate of $535.26 million. During the same quarter last year, the business posted $1.94 EPS. Paycom Software’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Paycom Software, Inc. will post 11.72 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Monday, November 23rd will be paid a $0.3750 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, November 23rd. Paycom Software’s payout ratio is presently 14.37%.

Analysts Set New Price Targets

Several brokerages have commented on PAYC. JPMorgan Chase & Co. upped their price target on Paycom Software from $264.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. Stifel Nicolaus lifted their target price on shares of Paycom Software from $120.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, August 6th. Jefferies Financial Group raised their price objective on Paycom Software from $160.00 to $300.00 and gave the company a “hold” rating in a research report on Tuesday, October 27th. Weiss Ratings raised Paycom Software from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, TD Cowen upped their price target on Paycom Software from $244.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Paycom Software presently has a consensus rating of “Hold” and a consensus price target of $255.36.

Paycom Software Company Profile

Paycom Software, Inc. provides cloud-based human capital management (HCM) software that helps businesses manage payroll, human resources, and workforce operations through a unified platform. Its solutions support the employee life cycle, including recruiting, onboarding, payroll processing, benefits administration, time and labor management, talent management, and compliance. The company’s platform incorporates automation and artificial intelligence to streamline HR processes and reduce administrative tasks.