Paycom Software, Inc. $PAYC Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Paycom Software, Inc. (NYSE:PAYC) by 4.1% in the second quarter, Holdings Channel reports. The firm owned 316,114 shares of the software maker’s stock after selling 13,568 shares during the period. Envestnet Asset Management Inc.’s holdings in Paycom Software were worth $73,149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PAYC. Brighton Jones LLC acquired a new stake in Paycom Software in the 4th quarter worth approximately $638,000. GAMMA Investing LLC boosted its stake in Paycom Software by 54.5% in the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock worth $198,000 after purchasing an additional 319 shares in the last quarter. Golden State Wealth Management LLC boosted its stake 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 worth $30,000 after purchasing an additional 73 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Paycom Software by 3.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,111 shares of the software maker’s stock worth $1,774,000 after purchasing an additional 298 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Paycom Software by 0.7% in the 1st quarter. New York State Teachers Retirement System now owns 46,658 shares of the software maker’s stock worth $10,194,000 after purchasing an additional 315 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Trading Down 0.7%

Shares of NYSE PAYC opened at $185.17 on Friday. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 2.06 and a beta of 0.82. The company has a 50 day simple moving average of $212.00 and a two-hundred day simple moving average of $227.78. Paycom Software, Inc. has a 12 month low of $184.72 and a 12 month high of $267.76.

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

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, August 25th. Paycom Software’s payout ratio is 20.30%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Zacks Research cut shares of Paycom Software from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Guggenheim initiated coverage on shares of Paycom Software in a research note on Friday, September 26th. They set a “buy” rating and a $270.00 price objective for the company. Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a research note on Thursday, September 11th. TD Cowen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and lifted their price objective for the company from $246.00 to $258.00 in a research note on Monday, September 22nd. Finally, Barclays decreased their price objective on shares of Paycom Software from $250.00 to $225.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Four equities 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $243.69.

Insider Buying and Selling at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at $5,477,482.91. The trade was a 5.76% decrease in their position. The transaction 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 company insiders.

Paycom Software 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.