Mirae Asset Global Investments Co. Ltd. Has $1.95 Million Stock Holdings in Paycom Software, Inc. $PAYC

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,426 shares of the software maker’s stock after purchasing an additional 315 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Paycom Software were worth $1,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC grew its stake in Paycom Software by 8.4% in the 1st quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker’s stock valued at $323,000 after buying an additional 114 shares during the last quarter. SG Americas Securities LLC grew its holdings in Paycom Software by 57.1% in the 1st quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker’s stock valued at $587,000 after buying an additional 976 shares during the last quarter. GAMMA Investing LLC grew its holdings in Paycom Software by 54.5% in the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock valued at $198,000 after buying an additional 319 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Paycom Software in the 1st quarter valued at approximately $690,000. Finally, Exchange Traded Concepts LLC grew its holdings in Paycom Software by 15.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker’s stock valued at $220,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the transaction, the insider owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.90% of the stock is currently owned by company insiders.

Paycom Software Stock Up 0.7%

Shares of NYSE PAYC opened at $205.16 on Thursday. Paycom Software, Inc. has a 12-month low of $160.00 and a 12-month high of $267.76. The firm’s 50-day simple moving average is $220.10 and its 200 day simple moving average is $229.25. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 2.23 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The firm had revenue of $483.60 million for the quarter, compared to the consensus estimate of $472.00 million. During the same quarter in the prior year, the business earned $1.62 EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software’s dividend payout ratio is 20.30%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. KeyCorp raised their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Guggenheim assumed coverage on shares of Paycom Software in a research report on Friday, September 26th. They issued a “buy” rating and a $270.00 price target on the stock. TD Cowen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and raised their price target for the stock from $246.00 to $258.00 in a research report on Monday, September 22nd. UBS Group decreased their price target on shares of Paycom Software from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Paycom Software in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus price target of $241.77.

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.