Raymond James & Associates grew its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 20.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 243,289 shares of the software maker's stock after buying an additional 41,923 shares during the period. Raymond James & Associates owned approximately 0.42% of Paycom Software worth $40,525,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new position in Paycom Software during the 2nd quarter worth about $25,000. Mather Group LLC. bought a new position in shares of Paycom Software during the first quarter worth about $26,000. MFA Wealth Advisors LLC bought a new stake in Paycom Software in the 2nd quarter valued at approximately $26,000. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the 3rd quarter worth approximately $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Paycom Software during the 2nd quarter worth approximately $27,000. Institutional investors own 87.77% of the company's stock.
PAYC has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on shares of Paycom Software from $155.00 to $170.00 and gave the stock a "hold" rating in a research report on Tuesday. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday, August 1st. StockNews.com downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Monday, July 15th. Barclays boosted their price target on Paycom Software from $167.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Friday, October 11th. Finally, TD Cowen raised their price objective on Paycom Software from $171.00 to $188.00 and gave the company a "hold" rating in a research report on Monday, September 23rd. Seventeen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Paycom Software has an average rating of "Hold" and a consensus target price of $182.25.
Read Our Latest Analysis on PAYC
In related news, insider Bradley Scott Smith sold 1,524 shares of the 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 owns 14,769 shares of the company's stock, valued at $2,327,889.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $165.55, for a total value of $322,822.50. Following the completion of the transaction, the chief executive officer now owns 2,998,358 shares in the company, valued at $496,378,166.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $240,212.88. Following the completion of the transaction, the insider now owns 14,769 shares of the company's stock, valued at approximately $2,327,889.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,906 shares of company stock valued at $11,714,516. 14.50% of the stock is owned by insiders.
NYSE PAYC opened at $166.40 on Wednesday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $264.70. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 2.35 and a beta of 1.17. The firm's 50 day simple moving average is $164.67 and its 200 day simple moving average is $164.15.
Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The company had revenue of $437.51 million during the quarter, compared to analysts' expectations of $436.19 million. On average, equities research analysts forecast that Paycom Software, Inc. will post 6.67 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.90%. Paycom Software's payout ratio is currently 18.07%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Paycom Software, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paycom Software wasn't on the list.
While Paycom Software currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.