Paycom Software, Inc. $PAYC Stock Sold by Kestra Advisory Services LLC

Kestra Advisory Services LLC decreased its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 12.3% during the third quarter, HoldingsChannel reports. The firm owned 16,717 shares of the software maker’s stock after selling 2,354 shares during the quarter. Kestra Advisory Services LLC’s holdings in Paycom Software were worth $3,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Chicago Partners Investment Group LLC boosted its position in Paycom Software by 23.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,081 shares of the software maker’s stock valued at $1,944,000 after acquiring an additional 1,365 shares in the last quarter. Provenance Wealth Advisors LLC purchased a new position in shares of Paycom Software during the 3rd quarter worth approximately $48,000. Associated Banc Corp bought a new position in shares of Paycom Software in the 3rd quarter worth approximately $11,261,000. Bridge City Capital LLC raised its position in shares of Paycom Software by 62.1% in the 3rd quarter. Bridge City Capital LLC now owns 23,677 shares of the software maker’s stock worth $5,153,000 after acquiring an additional 9,071 shares in the last quarter. Finally, Greenleaf Trust bought a new position in shares of Paycom Software in the 3rd quarter worth approximately $204,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Shane Hadlock sold 2,577 shares of Paycom Software stock in a transaction 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PAYC. KeyCorp raised their target price on Paycom Software from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Cantor Fitzgerald upped their price target on Paycom Software from $195.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. BMO Capital Markets increased their price objective on Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Stifel Nicolaus increased their price objective on Paycom Software from $120.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Finally, 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 report on Friday, October 2nd. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and an average price target of $255.36.

Paycom Software Stock Up 0.1%

Shares of NYSE PAYC traded up $0.34 on Friday, reaching $249.19. 684,651 shares of the company’s stock traded hands, compared to its average volume of 778,132. The business’s 50 day simple moving average is $238.74 and its two-hundred day simple moving average is $169.08. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $275.22. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 1.11 and a beta of 0.75. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.06.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, November 4th. The software maker reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.56. Paycom Software had a return on equity of 52.12% and a net margin of 23.28%. The firm had revenue of $543.80 million for the quarter, compared to analysts’ expectations of $535.26 million. During the same period in the previous year, the firm posted $1.94 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that Paycom Software, Inc. will post 11.72 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be given a dividend of $0.3750 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, November 23rd. Paycom Software’s dividend payout ratio (DPR) is 14.37%.

About Paycom Software

Paycom Software, Inc. provides cloud-based human capital management (HCM) software that helps businesses manage payroll, human resources, and workforce operations through a unified platform. Its solutions support the employee life cycle, including recruiting, onboarding, payroll processing, benefits administration, time and labor management, talent management, and compliance. The company’s platform incorporates automation and artificial intelligence to streamline HR processes and reduce administrative tasks.