Confluence Investment Management LLC reduced its holdings in shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) by 11.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,788 shares of the software maker’s stock after selling 43,599 shares during the period. Paycom Software makes up 1.1% of Confluence Investment Management LLC’s holdings, making the stock its 27th largest position. Confluence Investment Management LLC owned approximately 0.73% of Paycom Software worth $71,996,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Greenwich Wealth Management LLC purchased a new stake in shares of Paycom Software during the second quarter worth about $5,118,000. QRG Capital Management Inc. boosted its stake in Paycom Software by 59.6% in the 2nd quarter. QRG Capital Management Inc. now owns 3,935 shares of the software maker’s stock worth $495,000 after purchasing an additional 1,469 shares in the last quarter. Tidal Investments LLC boosted its stake in Paycom Software by 187.6% in the 2nd quarter. Tidal Investments LLC now owns 14,543 shares of the software maker’s stock worth $1,828,000 after purchasing an additional 9,487 shares in the last quarter. Archford Capital Strategies LLC grew its position in 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 purchasing an additional 49 shares during the last quarter. Finally, WINTON GROUP Ltd grew its position in Paycom Software by 311.7% during the 2nd quarter. WINTON GROUP Ltd now owns 46,197 shares of the software maker’s stock worth $5,806,000 after purchasing an additional 34,976 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.
Insiders Place Their Bets
In other Paycom Software news, insider Shane Hadlock sold 2,577 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total transaction of $612,295.20. Following the transaction, the insider owned 70,152 shares in the company, valued at approximately $16,668,115.20. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.20% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Research Report on Paycom Software
Paycom Software Stock Performance
PAYC traded up $8.88 during midday trading on Thursday, hitting $226.53. 227,902 shares of the company were exchanged, compared to its average volume of 1,228,091. The company’s 50 day simple moving average is $211.73 and its 200 day simple moving average is $159.65. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 1.21 and a beta of 0.78. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $244.98. 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 (NYSE:PAYC – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.The company had revenue of $531.20 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period in the previous year, the company posted $2.06 earnings per share. Paycom Software’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Paycom Software, Inc. will post 10.64 earnings per share for the current year.
Paycom Software Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were paid a $0.3750 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, August 24th. Paycom Software’s payout ratio is currently 15.94%.
About Paycom Software
Paycom Software, Inc develops and provides cloud-based human capital management (HCM) software for businesses. Its platform is designed to help employers manage payroll and other workforce processes through a unified system, reducing the need for separate applications and manual data entry.
The company’s products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, talent management, employee benefits administration, expense management, and workforce analytics.
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