Envestnet Portfolio Solutions Inc. Has $537,000 Stake in Paycom Software, Inc. $PAYC

Envestnet Portfolio Solutions Inc. trimmed its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 30.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,322 shares of the software maker’s stock after selling 1,014 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Paycom Software were worth $537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vest Financial LLC raised its holdings in shares of Paycom Software by 6.7% during the second quarter. Vest Financial LLC now owns 173,153 shares of the software maker’s stock worth $40,068,000 after acquiring an additional 10,873 shares during the period. MGO One Seven LLC raised its holdings in shares of Paycom Software by 10.1% during the second quarter. MGO One Seven LLC now owns 1,667 shares of the software maker’s stock worth $386,000 after acquiring an additional 153 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Paycom Software by 19.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,214 shares of the software maker’s stock worth $1,444,000 after acquiring an additional 1,027 shares during the period. Aberdeen Group plc boosted its position in Paycom Software by 192.8% during the 2nd quarter. Aberdeen Group plc now owns 10,299 shares of the software maker’s stock worth $2,383,000 after acquiring an additional 6,781 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Paycom Software by 4.1% during the 2nd quarter. Blair William & Co. IL now owns 2,018 shares of the software maker’s stock worth $467,000 after acquiring an additional 79 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Price Performance

Shares of PAYC opened at $207.15 on Wednesday. The firm has a 50-day moving average of $215.73 and a 200-day moving average of $228.28. Paycom Software, Inc. has a one year low of $162.62 and a one year high of $267.76. The company has a market cap of $11.99 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82.

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

Paycom Software Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays reduced their price target on Paycom Software from $250.00 to $225.00 and set an “equal weight” rating for the company in a research report on Tuesday. UBS Group decreased their target price on shares of Paycom Software from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. TD Cowen raised shares of Paycom Software from a “hold” rating to a “buy” rating and raised their target price for the company from $246.00 to $258.00 in a research report on Monday, September 22nd. Guggenheim began coverage on shares of Paycom Software in a research report on Friday, September 26th. They issued a “buy” rating and a $270.00 target price for the company. Finally, Cantor Fitzgerald raised shares of Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $243.69.

Insider Activity at Paycom Software

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

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.