Valley National Advisers Inc. Cuts Stake in Paycom Software, Inc. $PAYC

Valley National Advisers Inc. trimmed its stake in Paycom Software, Inc. (NYSE:PAYC) by 1.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,666 shares of the software maker’s stock after selling 145 shares during the quarter. Valley National Advisers Inc.’s holdings in Paycom Software were worth $2,467,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PAYC. PUREfi Wealth LLC grew its stake in shares of Paycom Software by 16.6% during the 2nd quarter. PUREfi Wealth LLC now owns 2,188 shares of the software maker’s stock valued at $506,000 after buying an additional 311 shares during the period. QRG Capital Management Inc. grew its position in Paycom Software by 43.3% during the second quarter. QRG Capital Management Inc. now owns 3,464 shares of the software maker’s stock valued at $802,000 after acquiring an additional 1,047 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Paycom Software by 3.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,426 shares of the software maker’s stock worth $1,950,000 after acquiring an additional 315 shares during the last quarter. J. Safra Sarasin Holding AG purchased a new position in Paycom Software in the second quarter valued at approximately $1,624,000. Finally, Philip James Wealth Mangement LLC acquired a new position in shares of Paycom Software during the 2nd quarter valued at $213,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $202.17 on Monday. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.82. Paycom Software, Inc. has a 1-year low of $159.82 and a 1-year high of $267.76. The company’s fifty day moving average is $222.11 and its two-hundred day moving average is $229.73.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company had revenue of $483.60 million during the quarter, compared to the consensus estimate of $472.00 million. During the same quarter in the previous year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Sell-side analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, August 25th. Paycom Software’s dividend payout ratio (DPR) is currently 20.30%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Paycom Software in a research report on Saturday, September 27th. JPMorgan Chase & Co. boosted their target price on shares of Paycom Software from $215.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. TD Cowen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and upped their target price for the company from $246.00 to $258.00 in a research note on Monday, September 22nd. Cantor Fitzgerald raised shares of Paycom Software to a “hold” rating in a research note on Thursday, September 11th. Finally, BMO Capital Markets boosted their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $241.77.

Insider Buying and Selling

In related news, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the transaction, the insider owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.90% of the stock is currently owned by insiders.

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.