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

State of Wyoming lessened its holdings in Paycom Software, Inc. (NYSE:PAYC) by 90.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 293 shares of the software maker’s stock after selling 2,830 shares during the period. State of Wyoming’s holdings in Paycom Software were worth $64,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fluent Financial LLC purchased a new stake in shares of Paycom Software during the second quarter worth approximately $2,439,000. Principal Financial Group Inc. lifted its position in shares of Paycom Software by 290.5% during the 1st quarter. Principal Financial Group Inc. now owns 243,762 shares of the software maker’s stock worth $29,627,000 after purchasing an additional 181,346 shares during the last quarter. Greenwich Wealth Management LLC purchased a new position in Paycom Software in the second quarter valued at $5,118,000. Corient Private Wealth LP purchased a new position in Paycom Software in the second quarter valued at $10,803,000. Finally, Janus Henderson Group PLC lifted its holdings in Paycom Software by 467.2% during the 1st quarter. Janus Henderson Group PLC now owns 23,200 shares of the software maker’s stock worth $2,819,000 after buying an additional 19,110 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

PAYC has been the topic of several research analyst reports. BMO Capital Markets raised their target price on Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, November 5th. Weiss Ratings raised Paycom Software from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. KeyCorp boosted their price objective on Paycom Software from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Finally, Cantor Fitzgerald increased their price target on shares of Paycom Software from $195.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Paycom Software presently has a consensus rating of “Hold” and an average target price of $255.36.

Paycom Software Price Performance

Shares of PAYC opened at $248.28 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average is $238.57 and its two-hundred day moving average is $168.55. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $275.22. The firm has a market capitalization of $11.18 billion, a PE ratio of 23.78, a P/E/G ratio of 1.08 and a beta of 0.75.

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

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be paid a $0.3750 dividend. This represents a $1.50 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, November 23rd. Paycom Software’s dividend payout ratio (DPR) is presently 14.37%.

Insiders Place Their Bets

In other Paycom Software news, insider Shane Hadlock sold 241 shares of the company’s stock in a transaction 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 sale, the insider owned 69,911 shares of the company’s stock, valued at approximately $16,783,533.77. This 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 is accessible through the SEC website. Company insiders own 13.20% of the company’s stock.

About Paycom Software

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.