Optas LLC Buys New Position in Paycom Software, Inc. (NYSE:PAYC)

Optas LLC bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 5,729 shares of the software maker’s stock, valued at approximately $954,000.

Several other hedge funds have also modified their holdings of the stock. Empirical Finance LLC raised its holdings in shares of Paycom Software by 3.9% during the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock valued at $314,000 after buying an additional 60 shares during the period. Andina Capital Management LLC grew its stake in Paycom Software by 4.0% during the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after purchasing an additional 63 shares in the last quarter. Davis Investment Partners LLC grew its stake in Paycom Software by 1.0% during the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after purchasing an additional 64 shares in the last quarter. GAMMA Investing LLC grew its stake in Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after purchasing an additional 68 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Paycom Software by 1.7% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock valued at $661,000 after purchasing an additional 79 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Price Performance

NYSE:PAYC opened at $210.65 on Friday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $222.30. The firm has a market capitalization of $12.10 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.97 and a beta of 1.13. The business has a 50 day simple moving average of $167.57 and a 200 day simple moving average of $163.17.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a return on equity of 32.90% and a net margin of 25.78%. The business had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. Research analysts anticipate that Paycom Software, Inc. will post 6.64 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.71%. Paycom Software’s dividend payout ratio is currently 18.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup raised their price objective on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Piper Sandler raised their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays raised their price objective on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Twelve research 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $191.44.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was 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 in the company, valued at $2,327,889.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now owns 14,769 shares of the company’s stock, valued at $2,327,889.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $172.43, for a total value of $336,238.50. Following the sale, the chief executive officer now directly owns 2,750,910 shares in the company, valued at $474,339,411.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,906 shares of company stock worth $11,731,540 in the last 90 days. 14.50% of the stock is currently owned by company insiders.

About Paycom Software

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.