Nisa Investment Advisors LLC Purchases 6,866 Shares of Paycom Software, Inc. $PAYC

Nisa Investment Advisors LLC boosted its position in Paycom Software, Inc. (NYSE:PAYC) by 88.1% in the 2nd quarter, Holdings Channel reports. The firm owned 14,658 shares of the software maker’s stock after buying an additional 6,866 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Paycom Software were worth $3,392,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC raised its stake in shares of Paycom Software by 8.4% during the first quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker’s stock valued at $323,000 after acquiring an additional 114 shares in the last quarter. Ethic Inc. bought a new stake in shares of Paycom Software during the second quarter valued at approximately $566,000. GAMMA Investing LLC raised its stake in shares of Paycom Software by 54.5% during the first quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock valued at $198,000 after acquiring an additional 319 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Paycom Software during the first quarter valued at approximately $690,000. Finally, Adams Diversified Equity Fund Inc. bought a new stake in shares of Paycom Software during the second quarter valued at approximately $9,603,000. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Down 5.9%

Shares of NYSE:PAYC opened at $186.74 on Thursday. The firm has a 50 day moving average of $212.80 and a 200 day moving average of $228.08. Paycom Software, Inc. has a 52 week low of $166.99 and a 52 week high of $267.76. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The business had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. During the same period in the previous year, the company earned $1.62 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, sell-side analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 25th. Paycom Software’s payout ratio is currently 20.30%.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction on Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PAYC shares. Guggenheim started coverage on shares of Paycom Software in a research note on Friday, September 26th. They set a “buy” rating and a $270.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paycom Software in a research note on Wednesday, October 8th. Barclays decreased their price target on shares of Paycom Software from $250.00 to $225.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Finally, BMO Capital Markets boosted their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus target price of $243.69.

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.