Marshall Wace LLP Purchases New Shares in Paycom Software, Inc. (NYSE:PAYC)

Marshall Wace LLP acquired a new position in Paycom Software, Inc. (NYSE:PAYC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,052 shares of the software maker’s stock, valued at approximately $1,867,000.

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

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.62, for a total value of $324,909.00. Following the completion of the transaction, the chief executive officer now directly owns 2,791,410 shares of the company’s stock, valued at $465,104,734.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was 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 directly owns 294,849 shares in the company, valued at $45,990,547.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.62, for a total transaction of $324,909.00. Following the transaction, the chief executive officer now owns 2,791,410 shares in the company, valued at $465,104,734.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,856 shares of company stock worth $11,841,695 in the last quarter. 14.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PAYC. Barclays lifted their price objective on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Citigroup dropped their target price 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. Finally, Jefferies Financial Group cut their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $179.75.

Paycom Software Price Performance

PAYC stock opened at $167.98 on Friday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $279.96. The stock’s fifty day moving average price is $163.73 and its 200-day moving average price is $167.17. The company has a market cap of $9.76 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 2.37 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The business had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. As a group, analysts expect that Paycom Software, Inc. will post 6.67 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

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.