Quarry LP Invests $100,000 in Paycom Software, Inc. (NYSE:PAYC)

Quarry LP purchased a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) in the second quarter, HoldingsChannel reports. The institutional investor purchased 697 shares of the software maker’s stock, valued at approximately $100,000.

Several other hedge funds also recently modified their holdings of the company. ARK & TLK Investments LLC bought a new position in Paycom Software during the fourth quarter valued at about $2,260,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Paycom Software by 29.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock worth $12,848,000 after purchasing an additional 14,670 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Paycom Software by 17.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock worth $11,790,000 after purchasing an additional 8,927 shares in the last quarter. Norges Bank acquired a new stake in Paycom Software during the fourth quarter valued at approximately $6,670,000. Finally, Sylebra Capital LLC bought a new stake in Paycom Software during the first quarter worth approximately $253,196,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the transaction, the insider now owns 14,769 shares in the company, valued at $2,327,889.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the sale, the insider now owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $166.60, for a total transaction of $324,870.00. Following the completion of the sale, the chief executive officer now owns 2,795,310 shares in the company, valued at approximately $465,698,646. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,856 shares of company stock worth $11,792,926. Corporate insiders own 14.50% of the company’s stock.

Paycom Software Trading Down 0.1 %

PAYC opened at $166.34 on Wednesday. The stock has a fifty day moving average price of $163.39 and a 200 day moving average price of $167.51. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $279.96. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.46 and a beta of 1.17.

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

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders 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 dividend yield of 0.90%. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PAYC shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Jefferies Financial Group reduced their target price on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. TD Cowen lifted their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Citigroup reduced their price objective on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Finally, Barclays lifted their target price on shares of Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Paycom Software has an average rating of “Hold” and an average target price of $179.75.

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.