Acadian Asset Management LLC lowered its stake in Paycom Software, Inc. (NYSE:PAYC – Free Report) by 59.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,229 shares of the software maker’s stock after selling 25,242 shares during the period. Acadian Asset Management LLC’s holdings in Paycom Software were worth $5,531,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HHM Wealth Advisors LLC boosted its stake in shares of Paycom Software by 350.0% during the first quarter. HHM Wealth Advisors LLC now owns 90 shares of the software maker’s stock valued at $27,000 after purchasing an additional 70 shares in the last quarter. KB Financial Partners LLC acquired a new position in Paycom Software in the first quarter valued at approximately $28,000. Clear Street Markets LLC lifted its stake in Paycom Software by 98.0% in the first quarter. Clear Street Markets LLC now owns 97 shares of the software maker’s stock valued at $29,000 after buying an additional 48 shares during the period. Lindbrook Capital LLC lifted its stake in Paycom Software by 5,100.0% in the second quarter. Lindbrook Capital LLC now owns 104 shares of the software maker’s stock valued at $33,000 after buying an additional 102 shares during the period. Finally, Sunbelt Securities Inc. bought a new stake in shares of Paycom Software during the first quarter valued at approximately $33,000. Institutional investors own 88.69% of the company’s stock.
Insiders Place Their Bets
In other news, Director J C. Watts, Jr. bought 314 shares of the stock in a transaction dated Friday, November 3rd. The stock was bought at an average price of $159.20 per share, for a total transaction of $49,988.80. Following the purchase, the director now directly owns 6,864 shares in the company, valued at approximately $1,092,748.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jason D. Clark sold 130 shares of Paycom Software stock in a transaction on Friday, September 8th. The stock was sold at an average price of $287.36, for a total transaction of $37,356.80. Following the transaction, the director now directly owns 4,970 shares in the company, valued at $1,428,179.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J C. Watts, Jr. bought 314 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were bought at an average price of $159.20 per share, for a total transaction of $49,988.80. Following the completion of the transaction, the director now directly owns 6,864 shares of the company’s stock, valued at approximately $1,092,748.80. The disclosure for this purchase can be found here. Company insiders own 14.50% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Stifel Nicolaus downgraded Paycom Software from a “buy” rating to a “hold” rating and decreased their price objective for the company from $400.00 to $160.00 in a report on Wednesday, November 1st. Citigroup downgraded Paycom Software from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $360.00 to $189.00 in a research note on Wednesday, November 1st. Barclays reduced their price objective on Paycom Software from $294.00 to $200.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 1st. UBS Group started coverage on Paycom Software in a research report on Tuesday. They set a “buy” rating and a $235.00 price target on the stock. Finally, Bank of America cut Paycom Software from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $330.00 to $185.00 in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus target price of $273.12.
Check Out Our Latest Stock Report on PAYC
Paycom Software Price Performance
Shares of Paycom Software stock opened at $167.76 on Friday. The business’s 50-day moving average price is $253.50 and its 200-day moving average price is $287.61. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.02. Paycom Software, Inc. has a 12 month low of $146.15 and a 12 month high of $374.04. The firm has a market capitalization of $10.10 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 1.38 and a beta of 1.40.
Paycom Software (NYSE:PAYC – Get Free Report) last posted its quarterly earnings results on Tuesday, October 31st. The software maker reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.16. Paycom Software had a return on equity of 25.02% and a net margin of 20.80%. The business had revenue of $406.30 million for the quarter, compared to analyst estimates of $411.17 million. During the same period last year, the company earned $0.92 EPS. Paycom Software’s revenue for the quarter was up 21.6% compared to the same quarter last year. Sell-side analysts forecast that Paycom Software, Inc. will post 6.03 EPS for the current fiscal year.
Paycom Software Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 27th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, November 24th. Paycom Software’s dividend payout ratio (DPR) is currently 25.64%.
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.
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