Paycom Software, Inc. $PAYC Stock Sold by Valley National Advisers Inc.

Valley National Advisers Inc. lessened its stake in Paycom Software, Inc. (NYSE:PAYC) by 98.7% in the third quarter, HoldingsChannel.com reports. The firm owned 133 shares of the software maker’s stock after selling 9,883 shares during the quarter. Valley National Advisers Inc.’s holdings in Paycom Software were worth $29,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Paycom Software during the second quarter worth about $632,460,000. Reinhart Partners LLC. grew its position in Paycom Software by 20.1% during the second quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock worth $153,320,000 after buying an additional 204,191 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Paycom Software by 108.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 308,393 shares of the software maker’s stock worth $67,122,000 after buying an additional 160,185 shares during the period. Dimensional Fund Advisors LP increased its holdings in Paycom Software by 10.1% in the first quarter. Dimensional Fund Advisors LP now owns 538,376 shares of the software maker’s stock valued at $65,435,000 after buying an additional 49,460 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Paycom Software in the second quarter valued at about $42,858,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PAYC. Guggenheim boosted their price target on Paycom Software from $225.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America started coverage on Paycom Software in a report on Tuesday, September 29th. They issued an “underperform” rating and a $200.00 price target on the stock. Wall Street Zen downgraded Paycom Software from a “buy” rating to a “hold” rating in a research note on Sunday, September 6th. TD Cowen raised their price objective on Paycom Software from $244.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Finally, Zacks Research cut Paycom Software from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Paycom Software currently has an average rating of “Hold” and a consensus price target of $230.50.

Paycom Software Price Performance

PAYC stock opened at $268.10 on Tuesday. The stock’s 50 day moving average price is $231.44 and its 200 day moving average price is $161.48. The firm has a market cap of $12.08 billion, a P/E ratio of 28.49, a PEG ratio of 1.47 and a beta of 0.82. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. Paycom Software, Inc. has a 1 year low of $104.90 and a 1 year high of $275.22.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the business posted $2.06 earnings per share. Paycom Software’s revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Paycom Software, Inc. will post 10.80 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were paid a dividend of $0.3750 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. Paycom Software’s dividend payout ratio (DPR) is presently 15.94%.

Insider Activity at Paycom Software

In related news, insider Shane Hadlock sold 241 shares of Paycom Software stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $240.07, for a total transaction of $57,856.87. Following the completion of the sale, the insider owned 69,911 shares in the company, valued at approximately $16,783,533.77. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.20% of the stock is currently owned by insiders.

About Paycom Software

Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.

The company’s software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.