Paycom Software, Inc. $PAYC Shares Newly Bought by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC bought a new stake in Paycom Software, Inc. (NYSE:PAYC) in the 3rd quarter, HoldingsChannel reports. The fund bought 2,071 shares of the software maker’s stock, valued at approximately $451,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PAYC. Elevation Wealth Partners LLC grew its stake in Paycom Software by 76.5% during the 3rd quarter. Elevation Wealth Partners LLC now owns 233 shares of the software maker’s stock worth $51,000 after buying an additional 101 shares during the last quarter. Caitlin John LLC acquired a new position in Paycom Software during the 2nd quarter valued at about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Paycom Software in the second quarter valued at about $33,000. EFG International AG purchased a new stake in Paycom Software in the second quarter valued at about $36,000. Finally, Trust Co. of Vermont purchased a new stake in Paycom Software in the second quarter valued at about $40,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Up 5.4%

Shares of PAYC opened at $251.94 on Friday. Paycom Software, Inc. has a 52-week low of $104.90 and a 52-week high of $252.87. The company has a market capitalization of $11.35 billion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 1.30 and a beta of 0.82. The stock has a fifty day simple moving average of $226.04 and a two-hundred day simple moving average of $168.04. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter last year, the firm earned $2.06 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts forecast that Paycom Software, Inc. will post 10.64 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were given a $0.3750 dividend. This represents a $1.50 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, August 24th. Paycom Software’s payout ratio is currently 15.94%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Sunday, September 6th. Weiss Ratings upgraded shares of Paycom Software from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Zacks Research downgraded shares of Paycom Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. TD Cowen boosted their target price on shares of Paycom Software from $244.00 to $286.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Finally, Barclays upped their price target on shares of Paycom Software from $210.00 to $250.00 and gave the company an “equal weight” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Paycom Software presently has a consensus rating of “Hold” and an average price target of $219.79.

Insiders Place Their Bets

In related news, insider Shane Hadlock sold 2,577 shares of Paycom Software stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $237.60, for a total value of $612,295.20. Following the completion of the transaction, the insider owned 70,152 shares in the company, valued at approximately $16,668,115.20. The trade was a 3.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.20% of the stock is currently owned by corporate insiders.

Paycom Software Company Profile

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.