Paycom Software, Inc. $PAYC Shares Newly Acquired by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC bought a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 40,723 shares of the software maker’s stock, valued at approximately $5,118,000.

Several other hedge funds also recently made changes to their positions in the business. QRG Capital Management Inc. grew its position in Paycom Software by 59.6% in the second quarter. QRG Capital Management Inc. now owns 3,935 shares of the software maker’s stock valued at $495,000 after purchasing an additional 1,469 shares in the last quarter. Tidal Investments LLC increased its position in Paycom Software by 187.6% during the second quarter. Tidal Investments LLC now owns 14,543 shares of the software maker’s stock worth $1,828,000 after buying an additional 9,487 shares during the last quarter. Archford Capital Strategies LLC increased its holdings in shares of Paycom Software by 1.1% during the 2nd quarter. Archford Capital Strategies LLC now owns 4,684 shares of the software maker’s stock worth $589,000 after acquiring an additional 49 shares during the last quarter. WINTON GROUP Ltd raised its stake in Paycom Software by 311.7% in the 2nd quarter. WINTON GROUP Ltd now owns 46,197 shares of the software maker’s stock valued at $5,806,000 after acquiring an additional 34,976 shares during the period. Finally, Engineers Gate Manager LP raised its stake in Paycom Software by 52.4% in the 2nd quarter. Engineers Gate Manager LP now owns 80,419 shares of the software maker’s stock valued at $10,107,000 after acquiring an additional 27,644 shares during the period. 87.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several research analyst reports. Stifel Nicolaus increased their price objective on shares of Paycom Software from $120.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. Wall Street Zen cut Paycom Software from a “buy” rating to a “hold” rating in a report on Sunday, September 6th. BMO Capital Markets upped their price target on shares of Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. TD Cowen upped their price objective on Paycom Software from $149.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Citigroup raised their target price on shares of Paycom Software from $136.00 to $194.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus price target of $213.93.

Insiders Place Their Bets

In other Paycom Software news, insider Shane Hadlock sold 241 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $240.07, for a total value of $57,856.87. Following the transaction, the insider directly owned 69,911 shares of the company’s stock, valued at approximately $16,783,533.77. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.20% of the company’s stock.

Paycom Software Trading Down 2.0%

NYSE:PAYC traded down $4.42 on Tuesday, reaching $216.16. 324,670 shares of the stock traded hands, compared to its average volume of 1,234,877. The company’s 50 day moving average is $208.67 and its 200-day moving average is $158.38. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $244.98. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business had revenue of $531.20 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter in the prior year, the firm posted $2.06 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Paycom Software, Inc. will post 10.64 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were issued a $0.3750 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, August 24th. Paycom Software’s payout ratio is presently 15.94%.

About Paycom Software

Paycom Software, Inc is a provider of cloud-based payroll and human capital management (HCM) software for businesses. Its platform is designed to help organizations manage employee data and payroll processes through a unified system, serving small, midsize and larger employers primarily in the United States.

The company’s products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, employee learning, performance management, compensation planning, benefits administration, expense management and compliance tools.