8,014 Paycom Software, Inc. $PAYC Shares Sold by Vest Financial LLC

Key Points

• Vest Financial reduced its Paycom Software stake by 21.3% in the third quarter, selling 8,014 shares and retaining 29,694 shares valued at approximately $6.46 million. Institutional investors own 87.77% of PAYC.
• Analyst sentiment remains mixed: Paycom has a consensus “Hold” rating from 16 analysts, with an average price target of $219.79, despite recent target increases from KeyCorp and TD Cowen.
• Paycom reported quarterly earnings of $2.78 per share, beating estimates of $2.38, while revenue rose 9.8% year over year to $531.2 million. The company also pays a quarterly dividend of $0.375 per share, equivalent to a 0.5% annual yield.

Vest Financial LLC lessened its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 21.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,694 shares of the software maker's stock after selling 8,014 shares during the period. Vest Financial LLC owned about 0.07% of Paycom Software worth $6,463,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PAYC. Fluent Financial LLC bought a new position in Paycom Software in the second quarter valued at $2,439,000. Principal Financial Group Inc. increased 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 acquired a new position in shares of Paycom Software during the 2nd quarter worth approximately $5,118,000. Corient Private Wealth LP bought a new stake in shares of Paycom Software during the 2nd quarter worth approximately $10,803,000. Finally, Janus Henderson Group PLC raised its stake in shares of 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 purchasing an additional 19,110 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Paycom Software

In related news, insider Shane Hadlock sold 2,577 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total value of $612,295.20. Following the sale, the insider owned 70,152 shares in the company, valued at approximately $16,668,115.20. This represents a 3.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PAYC shares. KeyCorp increased their price objective on Paycom Software from $270.00 to $280.00 and gave the company an "overweight" rating in a report on Monday, September 21st. JPMorgan Chase & Co. boosted their target price on shares of Paycom Software from $140.00 to $264.00 and gave the stock a "neutral" rating in a report on Tuesday, August 25th. Stifel Nicolaus upped their price target on shares of Paycom Software from $120.00 to $200.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. TD Cowen upped their price target on shares of Paycom Software from $244.00 to $286.00 and gave the stock a "buy" rating in a research report on Friday, October 2nd. Finally, Zacks Research cut shares of Paycom Software from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $219.79.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $272.94 on Friday. The business's 50 day moving average price is $230.58 and its two-hundred day moving average price is $172.91. The company has a market cap of $12.30 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 1.40 and a beta of 0.82. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $273.37.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.40. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%. The firm had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the prior year, the company earned $2.06 earnings per share. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts predict that Paycom Software, Inc. will post 10.80 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were issued a dividend of $0.3750 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.5%. Paycom Software's payout ratio is presently 15.94%.

About Paycom Software

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.

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