Willis Investment Counsel acquired a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,241 shares of the software maker's stock, valued at approximately $706,000.
A number of other institutional investors have also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Paycom Software by 29.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker's stock valued at $12,848,000 after buying an additional 14,670 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Paycom Software by 17.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker's stock valued at $11,790,000 after acquiring an additional 8,927 shares during the period. Sylebra Capital LLC purchased a new stake in shares of Paycom Software during the 1st quarter worth approximately $253,196,000. Profund Advisors LLC bought a new stake in shares of Paycom Software in the 2nd quarter worth approximately $589,000. Finally, Congress Asset Management Co. MA lifted its stake in Paycom Software by 2.6% in the first quarter. Congress Asset Management Co. MA now owns 510,428 shares of the software maker's stock valued at $101,580,000 after purchasing an additional 13,031 shares during the last quarter. Institutional investors own 87.77% of the company's stock.
Several analysts have issued reports on the company. Barclays boosted 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. TD Cowen increased their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a "hold" rating in a research report on Monday, September 23rd. Citigroup dropped their price target on shares of Paycom Software from $193.00 to $162.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 18th. StockNews.com downgraded Paycom Software from a "buy" rating to a "hold" rating in a research report on Monday, July 15th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday, August 1st. Seventeen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $180.17.
View Our Latest Stock Analysis on Paycom Software
Shares of Paycom Software stock opened at $162.50 on Monday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $278.23. The firm has a market cap of $9.44 billion, a PE ratio of 19.79, a PEG ratio of 2.31 and a beta of 1.17. The company has a 50 day simple moving average of $163.44 and a two-hundred day simple moving average of $165.78.
Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.07. The company had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. As a group, research analysts anticipate that Paycom Software, Inc. will post 6.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were given 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 0.92%. Paycom Software's payout ratio is 18.27%.
In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $160.11, for a total value of $312,214.50. Following the transaction, the chief executive officer now owns 3,013,958 shares in the company, valued at $482,564,815.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $160.11, for a total transaction of $312,214.50. Following the transaction, the chief executive officer now directly owns 3,013,958 shares in the company, valued at $482,564,815.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction that occurred on Thursday, August 8th. The stock was 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 directly owns 14,769 shares in the company, valued at $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. Insiders sold a total of 69,956 shares of company stock valued at $11,342,924 over the last quarter. 14.50% of the stock is owned by corporate insiders.
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.