944 Shares in Paycom Software, Inc. $PAYC Bought by NorthRock Partners LLC

NorthRock Partners LLC acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 944 shares of the software maker’s stock, valued at approximately $218,000.

Other hedge funds have also recently made changes to their positions in the company. von Borstel & Associates Inc. purchased a new stake in shares of Paycom Software during the 1st quarter worth $27,000. SouthState Corp acquired a new position in Paycom Software during the 1st quarter valued at about $27,000. Golden State Wealth Management LLC increased its position in Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after buying an additional 73 shares in the last quarter. S Bank Fund Management Ltd acquired a new position in Paycom Software during the 1st quarter valued at about $37,000. Finally, Brooklyn Investment Group increased its position in Paycom Software by 19.4% during the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after buying an additional 39 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PAYC. BMO Capital Markets upped their target price on Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th. Guggenheim began coverage on Paycom Software in a research report on Friday, September 26th. They set a “buy” rating and a $270.00 target price on the stock. Cantor Fitzgerald raised Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paycom Software in a research report on Wednesday, October 8th. Finally, Barclays upped their target price on Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $245.62.

Paycom Software Stock Up 0.1%

Shares of PAYC opened at $200.68 on Friday. Paycom Software, Inc. has a 52 week low of $162.62 and a 52 week high of $267.76. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 2.20 and a beta of 0.82. The stock’s 50-day moving average price is $216.27 and its 200-day moving average price is $228.23.

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

Paycom Software Announces Dividend

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

Insider Activity at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $223.27, for a total transaction of $334,905.00. Following the transaction, the insider owned 24,533 shares in the company, valued at approximately $5,477,482.91. This represents a 5.76% 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. 10.90% of the stock is owned by insiders.

About Paycom Software

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.