Vest Financial LLC Sells 8,014 Shares of Paycom Software, Inc. $PAYC

Vest Financial LLC reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 21.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,694 shares of the software maker’s stock after selling 8,014 shares during the quarter. Vest Financial LLC’s holdings in Paycom Software were worth $6,463,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PAYC. TD Waterhouse Canada Inc. acquired a new stake in Paycom Software during the third quarter worth approximately $25,000. Elevation Wealth Partners LLC grew its position in shares of Paycom Software by 76.5% in the third quarter. Elevation Wealth Partners LLC now owns 233 shares of the software maker’s stock valued at $51,000 after purchasing an additional 101 shares during the last quarter. Caitlin John LLC acquired a new position in shares of Paycom Software in the second quarter valued at approximately $31,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Paycom Software in the second quarter valued at approximately $33,000. Finally, EFG International AG bought a new position in shares of Paycom Software during the second quarter worth approximately $36,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PAYC shares. KeyCorp lifted their price target on Paycom Software from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, September 21st. TD Cowen boosted their price target on Paycom Software from $244.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Wall Street Zen lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Sunday, September 6th. Guggenheim lifted their target price on Paycom Software from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Zacks Research cut shares of Paycom Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $219.79.

Insider Buying and Selling

In other Paycom Software news, insider Shane Hadlock sold 2,577 shares of the firm’s 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 transaction, the insider owned 70,152 shares in the company, valued at $16,668,115.20. This trade represents a 3.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.20% of the stock is currently owned by company insiders.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $272.94 on Friday. Paycom Software, Inc. has a 12-month low of $104.90 and a 12-month high of $273.37. The company’s 50 day moving average price is $230.58 and its two-hundred day moving average price is $172.91. The firm has a market cap of $12.30 billion, a PE ratio of 29.01, a PEG ratio of 1.40 and a beta of 0.82. 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 released its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, beating 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 company had revenue of $531.20 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period in the previous year, the business earned $2.06 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts predict that Paycom Software, Inc. will post 10.80 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were given 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 yield of 0.5%. Paycom Software’s dividend payout ratio is currently 15.94%.

Paycom Software Profile

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.