Paycom Software, Inc. (NYSE:PAYC) Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC raised its holdings in Paycom Software, Inc. (NYSE:PAYC) by 63.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,152 shares of the software maker’s stock after acquiring an additional 1,228 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Paycom Software were worth $521,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in Paycom Software in the second quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Paycom Software in the 2nd quarter worth about $26,000. Armstrong Advisory Group Inc. acquired a new stake in Paycom Software in the 3rd quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Paycom Software during the 2nd quarter valued at about $27,000. Finally, Palisade Asset Management LLC acquired a new position in Paycom Software during the first quarter worth about $32,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.63, for a total value of $303,478.50. Following the transaction, the chief executive officer now directly owns 2,978,858 shares of the company’s stock, valued at approximately $463,599,670.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.63, for a total value of $303,478.50. Following the completion of the sale, the chief executive officer now owns 2,978,858 shares of the company’s stock, valued at approximately $463,599,670.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,906 shares of company stock valued at $11,714,536. 12.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. TD Cowen increased their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Barclays upped their target price on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Jefferies Financial Group upped their target price on Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Seventeen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $182.25.

Paycom Software Stock Up 2.9 %

Shares of Paycom Software stock opened at $172.42 on Thursday. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $247.42. The firm has a market cap of $9.90 billion, a PE ratio of 20.77, a P/E/G ratio of 2.34 and a beta of 1.17. The business’s fifty day moving average is $165.64 and its two-hundred day moving average is $162.91.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. The company had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. Equities research analysts anticipate that Paycom Software, Inc. will post 6.64 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is currently 18.07%.

About Paycom Software

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.