Legacy Wealth Asset Management LLC Acquires Shares of 2,223 Paycom Software, Inc. (NYSE:PAYC)

Legacy Wealth Asset Management LLC bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,223 shares of the software maker’s stock, valued at approximately $370,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sylebra Capital LLC bought a new stake in shares of Paycom Software in the 1st quarter worth $253,196,000. Federated Hermes Inc. increased its stake in Paycom Software by 1,011.2% in the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after buying an additional 529,591 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Paycom Software by 9,997.5% during the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after buying an additional 278,529 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Paycom Software by 769.2% in the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after buying an additional 178,198 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in shares of Paycom Software by 12,268.6% in the second quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock valued at $242,000 after acquiring an additional 167,834 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $240,212.88. Following the completion of the transaction, the insider now directly owns 14,769 shares in the company, valued at $2,327,889.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the sale, the insider now directly owns 14,769 shares in the company, valued at $2,327,889.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the completion of the transaction, the chief financial officer now directly owns 294,849 shares in the company, valued at $45,990,547.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,906 shares of company stock worth $11,716,837. Corporate insiders own 14.50% of the company’s stock.

Paycom Software Stock Performance

Shares of PAYC opened at $164.63 on Friday. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $253.33. The stock’s 50-day simple moving average is $165.06 and its 200 day simple moving average is $163.60. The stock has a market capitalization of $9.45 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 2.35 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, topping analysts’ consensus estimates of $1.13 by $0.07. The firm had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. On average, research analysts forecast that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were issued a $0.375 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.91%. Paycom Software’s payout ratio is currently 18.07%.

Analysts Set New Price Targets

PAYC has been the topic of several research analyst reports. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Barclays boosted their price target on shares of Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Jefferies Financial Group raised their price objective on shares of Paycom Software from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. TD Cowen lifted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $182.25.

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.