Optas LLC Decreases Stock Holdings in Paycom Software, Inc. $PAYC

Optas LLC decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 13.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 3,855 shares of the software maker’s stock after selling 574 shares during the period. Optas LLC’s holdings in Paycom Software were worth $892,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. von Borstel & Associates Inc. purchased a new position in shares of Paycom Software during the 1st quarter valued at approximately $27,000. SouthState Corp purchased a new position in Paycom Software in the 1st quarter valued at $27,000. Golden State Wealth Management LLC lifted its holdings in Paycom Software by 112.3% in the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in Paycom Software in the 1st quarter valued at $35,000. Finally, S Bank Fund Management Ltd purchased a new position in Paycom Software in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Up 0.7%

Shares of PAYC opened at $205.16 on Thursday. Paycom Software, Inc. has a 52-week low of $160.00 and a 52-week high of $267.76. The company has a market capitalization of $11.87 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 2.23 and a beta of 0.82. The stock has a fifty day simple moving average of $220.10 and a two-hundred day simple moving average of $229.25.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.28. The business had revenue of $483.60 million during the quarter, compared to the consensus estimate of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. As a group, equities analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were given 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 of this dividend was Monday, August 25th. Paycom Software’s dividend payout ratio (DPR) is presently 20.30%.

Analyst Ratings Changes

A number of brokerages have weighed in on PAYC. Weiss Ratings restated a “hold (c)” rating on shares of Paycom Software in a report on Wednesday. BMO Capital Markets raised their price objective on Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. TD Cowen upgraded Paycom Software from a “hold” rating to a “buy” rating and raised their price objective for the company from $246.00 to $258.00 in a report on Monday, September 22nd. JPMorgan Chase & Co. raised their price objective on Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Finally, KeyCorp raised their target price on Paycom Software from $285.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $241.77.

Insider Activity

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 sale, the insider directly owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. This trade represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.90% of the company’s stock.

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.