Wealth Enhancement Advisory Services LLC Has $4.12 Million Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Wealth Enhancement Advisory Services LLC increased its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 14.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,756 shares of the software maker’s stock after acquiring an additional 3,094 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Paycom Software were worth $4,124,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Paycom Software during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in Paycom Software during the second quarter valued at $26,000. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software in the 3rd quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Paycom Software during the 2nd quarter worth about $27,000. Finally, Palisade Asset Management LLC purchased a new position in Paycom Software during the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Up 21.4 %

Shares of PAYC stock opened at $209.03 on Friday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $247.42. The company has a market cap of $12.00 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 2.34 and a beta of 1.17. The business’s 50 day moving average is $166.62 and its two-hundred day moving average is $163.23.

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

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 0.72%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.07%.

Insider Transactions at Paycom Software

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 $2,327,889.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $172.43, for a total transaction of $336,238.50. Following the completion of the transaction, the chief executive officer now owns 2,750,910 shares of the company’s stock, valued at approximately $474,339,411.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction dated 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 directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,906 shares of company stock worth $11,731,540. Company insiders own 12.60% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several research reports. TD Cowen raised their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Piper Sandler lifted their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday. Jefferies Financial Group upped their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday. Barclays lifted their price objective on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Citigroup upped their target price on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday. Seventeen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and an average price target of $186.92.

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.