Concorde Asset Management LLC Has $313,000 Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Concorde Asset Management LLC cut its stake in Paycom Software, Inc. (NYSE:PAYC) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,188 shares of the software maker’s stock after selling 81 shares during the period. Concorde Asset Management LLC’s holdings in Paycom Software were worth $313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Empirical Finance LLC grew its stake in Paycom Software by 3.9% during the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after purchasing an additional 60 shares during the period. Optas LLC increased its stake in shares of Paycom Software by 6.1% in the 1st quarter. Optas LLC now owns 1,059 shares of the software maker’s stock valued at $211,000 after acquiring an additional 61 shares in the last quarter. Wahed Invest LLC lifted its position in shares of Paycom Software by 7.9% during the 4th quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock valued at $181,000 after acquiring an additional 64 shares during the period. Andina Capital Management LLC boosted its stake in Paycom Software by 4.5% during the second quarter. Andina Capital Management LLC now owns 1,588 shares of the software maker’s stock worth $227,000 after acquiring an additional 68 shares in the last quarter. Finally, Independent Advisor Alliance increased its stake in Paycom Software by 4.3% in the fourth quarter. Independent Advisor Alliance now owns 1,931 shares of the software maker’s stock valued at $399,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Buying and Selling

In other news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the sale, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the company’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 transaction, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $170.27, for a total value of $332,026.50. Following the transaction, the chief executive officer now directly owns 2,932,058 shares of the company’s stock, valued at approximately $499,241,515.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,906 shares of company stock valued at $11,200,243. Corporate insiders own 14.50% of the company’s stock.

Paycom Software Stock Up 1.1 %

PAYC opened at $170.94 on Thursday. The firm has a 50-day moving average price of $161.09 and a 200-day moving average price of $168.30. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $279.96. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 2.37 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The business had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. On average, sell-side analysts expect that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were paid a dividend of $0.375 per share. The ex-dividend date was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.88%. Paycom Software’s payout ratio is 18.27%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PAYC. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Jefferies Financial Group decreased their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Barclays raised their price objective on shares of Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. TD Cowen boosted their target price on shares of Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $178.33.

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.