Raymond James & Associates Has $40.53 Million Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Raymond James & Associates raised its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 20.8% in the third quarter, HoldingsChannel.com reports. The firm owned 243,289 shares of the software maker’s stock after purchasing an additional 41,923 shares during the quarter. Raymond James & Associates’ holdings in Paycom Software were worth $40,525,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Empirical Finance LLC lifted its stake in shares of Paycom Software by 3.9% in the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock valued at $314,000 after purchasing an additional 60 shares during the period. Optas LLC increased its holdings in Paycom Software by 6.1% in the first quarter. Optas LLC now owns 1,059 shares of the software maker’s stock worth $211,000 after purchasing an additional 61 shares in the last quarter. Davis Investment Partners LLC lifted its stake in Paycom Software by 1.0% in the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after buying an additional 64 shares during the period. Andina Capital Management LLC boosted its holdings in shares of Paycom Software by 4.5% during the 2nd quarter. Andina Capital Management LLC now owns 1,588 shares of the software maker’s stock worth $227,000 after buying an additional 68 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after buying an additional 68 shares during the period. Institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $165.55, for a total value of $322,822.50. Following the transaction, the chief executive officer now directly owns 2,998,358 shares of the company’s stock, valued at approximately $496,378,166.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the sale, the chief financial officer now directly owns 294,849 shares of the company’s stock, valued at $45,990,547.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $165.55, for a total value of $322,822.50. Following the completion of the sale, the chief executive officer now owns 2,998,358 shares in the company, valued at approximately $496,378,166.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,906 shares of company stock worth $11,714,516 in the last quarter. 14.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on PAYC. Barclays increased their target price on shares of Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Jefferies Financial Group boosted their target price on Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Tuesday. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Finally, TD Cowen upped their target price on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Seventeen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $182.25.

Paycom Software Price Performance

NYSE PAYC opened at $166.40 on Wednesday. The company has a fifty day moving average price of $164.67 and a 200-day moving average price of $164.15. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $264.70. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.35 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $436.19 million. On average, research analysts anticipate that Paycom Software, Inc. will post 6.67 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a $0.375 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.90%. Paycom Software’s dividend payout ratio is currently 18.07%.

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.