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

Optas LLC trimmed its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 13.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,855 shares of the software maker’s stock after selling 574 shares during the quarter. Optas LLC’s holdings in Paycom Software were worth $892,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. von Borstel & Associates Inc. acquired a new position in shares of Paycom Software during the first quarter valued at about $27,000. SouthState Corp acquired a new position in shares of Paycom Software during the first quarter valued at about $27,000. Golden State Wealth Management LLC increased its holdings in shares of Paycom Software by 112.3% during the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Paycom Software during the first quarter valued at about $35,000. Finally, S Bank Fund Management Ltd acquired a new position in shares of Paycom Software during the first quarter valued at about $37,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the sale, the insider owned 24,533 shares in the company, valued at approximately $5,477,482.91. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 10.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PAYC. TD Cowen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and upped their price objective for the company from $246.00 to $258.00 in a report on Monday, September 22nd. UBS Group cut their price objective on shares of Paycom Software from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Barclays upped their price objective on shares of Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Paycom Software in a report on Wednesday. Finally, KeyCorp increased their price target on shares of Paycom Software from $285.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and a consensus target price of $241.77.

Paycom Software Trading Up 0.7%

Paycom Software stock opened at $205.16 on Thursday. Paycom Software, Inc. has a 12 month low of $160.00 and a 12 month high of $267.76. The stock’s 50 day simple moving average is $220.10 and its two-hundred day simple moving average is $229.25. The firm has a market cap of $11.87 billion, a PE ratio of 27.76, a P/E/G ratio of 2.23 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The business had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. During the same quarter in the prior year, the firm posted $1.62 EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

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

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.