Paycom Software, Inc. $PAYC Stock Sold by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC lowered its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 44.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,990 shares of the software maker’s stock after selling 2,358 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Paycom Software were worth $651,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PAYC. Axxcess Wealth Management LLC acquired a new stake in Paycom Software in the third quarter valued at approximately $202,000. Crossmark Global Holdings Inc. raised its stake in shares of Paycom Software by 395.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,620 shares of the software maker’s stock worth $2,094,000 after buying an additional 7,678 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Paycom Software by 1,483.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 10,532 shares of the software maker’s stock worth $2,292,000 after buying an additional 9,867 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Paycom Software by 108.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 308,393 shares of the software maker’s stock worth $67,122,000 after buying an additional 160,185 shares during the period. Finally, Diversify Advisory Services LLC acquired a new position in shares of Paycom Software during the 3rd quarter worth approximately $180,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Up 4.6%

Shares of NYSE PAYC opened at $272.94 on Friday. Paycom Software, Inc. has a 12-month low of $104.90 and a 12-month high of $273.37. The stock has a market cap of $12.30 billion, a PE ratio of 30.10, a P/E/G ratio of 1.40 and a beta of 0.82. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57. The company has a 50-day moving average of $230.58 and a 200 day moving average of $172.91.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. During the same period last year, the company posted $2.06 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Paycom Software, Inc. will post 10.80 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were given a $0.3750 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.5%. Paycom Software’s dividend payout ratio is 15.94%.

Analyst Ratings Changes

PAYC has been the topic of a number of recent analyst reports. TD Cowen increased their target price on Paycom Software from $244.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. BTIG Research boosted their price target on shares of Paycom Software from $160.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citigroup upped their price objective on shares of Paycom Software from $136.00 to $194.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Cantor Fitzgerald upped their price objective on shares of Paycom Software from $135.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Finally, Guggenheim increased their price objective on shares of Paycom Software from $180.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $219.79.

Insider Activity at Paycom Software

In related news, insider Shane Hadlock sold 241 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $240.07, for a total value of $57,856.87. Following the completion of the sale, the insider owned 69,911 shares of the company’s stock, valued at approximately $16,783,533.77. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.20% of the company’s stock.

Paycom Software Company Profile

Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.

The company’s software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.