Custom Index Systems LLC Boosts Position in Paycom Software, Inc. (NYSE:PAYC)

Custom Index Systems LLC grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 21.5% during the third quarter, Holdings Channel reports. The firm owned 2,914 shares of the software maker’s stock after purchasing an additional 516 shares during the period. Custom Index Systems LLC’s holdings in Paycom Software were worth $485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYC. Ashton Thomas Private Wealth LLC purchased a new stake in Paycom Software in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Paycom Software during the second quarter worth about $26,000. Armstrong Advisory Group Inc. purchased a new position in shares of Paycom Software during the third quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Paycom Software in the 2nd quarter valued at about $27,000. Finally, Palisade Asset Management LLC purchased a new stake in Paycom Software during the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Price Performance

Shares of PAYC stock traded down $0.55 during midday trading on Friday, reaching $164.63. 328,427 shares of the company traded hands, compared to its average volume of 809,357. The firm has a market cap of $9.45 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.35 and a beta of 1.17. The firm’s 50 day simple moving average is $165.06 and its two-hundred day simple moving average is $163.60. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $253.33.

Paycom Software (NYSE:PAYC) last posted its 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. The company had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. As a group, research analysts anticipate that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were paid a $0.375 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a yield of 0.91%. Paycom Software’s payout ratio is 18.07%.

Analyst Ratings Changes

Several brokerages have weighed in on PAYC. Barclays lifted their target price on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. TD Cowen lifted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, Jefferies Financial Group boosted their price target on shares of Paycom Software from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Seventeen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $182.25.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $171.30, for a total value of $334,035.00. Following the sale, the chief executive officer now owns 2,805,060 shares of the company’s stock, valued at $480,506,778. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $171.30, for a total value of $334,035.00. Following the completion of the transaction, the chief executive officer now directly owns 2,805,060 shares of the company’s stock, valued at $480,506,778. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Craig E. Boelte sold 11,882 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the sale, the chief financial officer now owns 294,849 shares in the company, valued at $45,990,547.02. This 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 sold 71,906 shares of company stock worth $11,716,837. 14.50% of the stock is owned by corporate insiders.

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.