Brighton Jones LLC Acquires 165 Shares of Paycom Software, Inc. $PAYC

Brighton Jones LLC raised its position in Paycom Software, Inc. (NYSE:PAYC) by 5.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,148 shares of the software maker’s stock after purchasing an additional 165 shares during the period. Brighton Jones LLC’s holdings in Paycom Software were worth $728,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PAYC. von Borstel & Associates Inc. bought a new position in Paycom Software in the 1st quarter valued at $27,000. SouthState Corp bought a new position in Paycom Software in the 1st quarter valued at $27,000. Golden State Wealth Management LLC boosted its holdings in Paycom Software by 112.3% in the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after purchasing an additional 73 shares during the period. S Bank Fund Management Ltd bought a new position in Paycom Software in the 1st quarter valued at $37,000. Finally, Brooklyn Investment Group boosted its holdings in Paycom Software by 19.4% in the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after purchasing an additional 39 shares during the period. 87.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of Paycom Software from $250.00 to $225.00 and set a “hold” rating for the company in a report on Monday, October 13th. Zacks Research downgraded shares of Paycom Software from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. UBS Group dropped their price objective on shares of Paycom Software from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. TD Cowen raised shares of Paycom Software from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $246.00 to $258.00 in a report on Monday, September 22nd. Finally, Cantor Fitzgerald raised shares of Paycom Software to a “hold” rating in a report on Thursday, September 11th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Paycom Software currently has a consensus rating of “Hold” and an average target price of $243.69.

Insider Buying and Selling

In related news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction on Friday, September 12th. The shares were 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 in the company, valued at $5,477,482.91. This trade represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.90% of the stock is currently owned by insiders.

Paycom Software Stock Performance

NYSE PAYC opened at $198.45 on Wednesday. The company has a market capitalization of $11.49 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.21 and a beta of 0.82. The company has a fifty day moving average of $213.60 and a 200-day moving average of $228.28. Paycom Software, Inc. has a 52-week low of $165.51 and a 52-week high of $267.76.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.28. The company had revenue of $483.60 million for the quarter, compared to analysts’ expectations of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 EPS. As a group, analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, August 25th. Paycom Software’s dividend payout ratio (DPR) is presently 20.30%.

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.