Profund Advisors LLC Makes New $589,000 Investment in Paycom Software, Inc. (NYSE:PAYC)

Profund Advisors LLC bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,121 shares of the software maker’s stock, valued at approximately $589,000.

Other large investors also recently modified their holdings of the company. Ensign Peak Advisors Inc raised its position in shares of Paycom Software by 41.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 56,578 shares of the software maker’s stock worth $8,093,000 after purchasing an additional 16,586 shares during the period. Pacer Advisors Inc. grew its stake in Paycom Software by 7.9% during the 2nd quarter. Pacer Advisors Inc. now owns 4,397 shares of the software maker’s stock worth $629,000 after buying an additional 323 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Paycom Software by 77.1% in the second quarter. Canada Pension Plan Investment Board now owns 162,110 shares of the software maker’s stock worth $23,188,000 after buying an additional 70,591 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Paycom Software by 15.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,907 shares of the software maker’s stock valued at $702,000 after buying an additional 643 shares during the last quarter. Finally, ProVise Management Group LLC acquired a new position in shares of Paycom Software during the second quarter valued at $285,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several recent research reports. TD Cowen lifted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Jefferies Financial Group lowered their target price on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Citigroup reduced their price target on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Finally, Barclays raised 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Paycom Software has an average rating of “Hold” and an average target price of $179.75.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $171.30, for a total transaction of $334,035.00. Following the sale, the chief executive officer now owns 2,805,060 shares in the company, valued at approximately $480,506,778. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $171.30, for a total transaction of $334,035.00. Following the transaction, the chief executive officer now directly owns 2,805,060 shares in the company, valued at approximately $480,506,778. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Craig E. Boelte sold 11,882 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the sale, the chief financial officer now directly owns 294,849 shares in the company, valued at $45,990,547.02. The disclosure for this sale can be found here. Insiders sold 73,856 shares of company stock worth $11,641,723 in the last quarter. 14.50% of the stock is owned by company insiders.

Paycom Software Price Performance

Shares of PAYC opened at $167.83 on Thursday. The firm’s 50 day moving average is $162.82 and its 200-day moving average is $168.07. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $279.96. The stock has a market capitalization of $9.64 billion, a P/E ratio of 20.44, a P/E/G ratio of 2.44 and a beta of 1.17.

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

Paycom Software Dividend Announcement

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

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.