Plato Investment Management Ltd Grows Stake in Paycom Software, Inc. (NYSE:PAYC)

Plato Investment Management Ltd raised its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 10,944.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,988 shares of the software maker’s stock after purchasing an additional 1,970 shares during the period. Plato Investment Management Ltd’s holdings in Paycom Software were worth $284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PAYC. Private Advisor Group LLC raised its position in Paycom Software by 104.9% during the 4th quarter. Private Advisor Group LLC now owns 2,522 shares of the software maker’s stock valued at $521,000 after purchasing an additional 1,291 shares in the last quarter. Principal Securities Inc. bought a new stake in Paycom Software during the 4th quarter valued at $134,000. QRG Capital Management Inc. raised its position in Paycom Software by 7.3% during the 4th quarter. QRG Capital Management Inc. now owns 1,964 shares of the software maker’s stock valued at $406,000 after purchasing an additional 134 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Paycom Software by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 251,365 shares of the software maker’s stock valued at $51,964,000 after purchasing an additional 13,147 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in shares of Paycom Software by 5.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 1,939 shares of the software maker’s stock valued at $401,000 after acquiring an additional 108 shares during the period. 87.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PAYC shares. Jefferies Financial Group cut their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Citigroup cut their price target on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. TD Cowen lifted their price target on Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Barclays lifted their price target on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Seventeen 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 has an average rating of “Hold” and an average price target of $178.33.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $145.48, for a total value of $283,686.00. Following the completion of the transaction, the chief executive officer now owns 3,045,158 shares of the company’s stock, valued at approximately $443,009,585.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the transaction, the insider now owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $145.48, for a total value of $283,686.00. Following the completion of the transaction, the chief executive officer now directly owns 3,045,158 shares of the company’s stock, valued at approximately $443,009,585.84. The disclosure for this sale can be found here. Insiders sold a total of 71,906 shares of company stock valued at $11,149,367 in the last quarter. 14.50% of the stock is currently owned by company insiders.

Paycom Software Stock Performance

Paycom Software stock opened at $169.12 on Tuesday. The business’s 50-day simple moving average is $159.90 and its two-hundred day simple moving average is $168.40. The company has a market cap of $9.83 billion, a PE ratio of 20.60, a PEG ratio of 2.37 and a beta of 1.17. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $279.96.

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

Paycom Software Dividend Announcement

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

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.