Reinhart Partners LLC. acquired a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,836 shares of the software maker's stock, valued at approximately $7,801,000. Reinhart Partners LLC. owned approximately 0.08% of Paycom Software at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Empirical Finance LLC grew its position in Paycom Software by 3.9% during the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker's stock valued at $314,000 after buying an additional 60 shares during the period. Optas LLC grew its position in shares of Paycom Software by 6.1% during the 1st quarter. Optas LLC now owns 1,059 shares of the software maker's stock valued at $211,000 after acquiring an additional 61 shares during the period. Wahed Invest LLC increased its stake in shares of Paycom Software by 7.9% in the 4th quarter. Wahed Invest LLC now owns 877 shares of the software maker's stock valued at $181,000 after purchasing an additional 64 shares in the last quarter. Davis Investment Partners LLC boosted its position in Paycom Software by 1.0% during the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker's stock worth $1,067,000 after purchasing an additional 64 shares in the last quarter. Finally, Andina Capital Management LLC grew its holdings in Paycom Software by 4.5% in the second quarter. Andina Capital Management LLC now owns 1,588 shares of the software maker's stock valued at $227,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.
Several research analysts have recently weighed in on the company. Citigroup reduced their target price on Paycom Software from $193.00 to $162.00 and set a "neutral" rating for the company in a research note on Tuesday, June 18th. Barclays increased their price objective on shares of Paycom Software from $167.00 to $172.00 and gave the company an "equal weight" rating in a report on Friday. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday, August 1st. Jefferies Financial Group reduced their price target on shares of Paycom Software from $170.00 to $145.00 and set a "hold" rating for the company in a research report on Monday, June 24th. Finally, TD Cowen lifted their price objective on Paycom Software from $171.00 to $188.00 and gave the stock a "hold" rating in a report on Monday, September 23rd. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $180.17.
Read Our Latest Research Report on PAYC
Shares of PAYC opened at $162.50 on Friday. The stock has a fifty day simple moving average of $163.47 and a two-hundred day simple moving average of $166.37. The company has a market capitalization of $9.33 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 2.31 and a beta of 1.17. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $278.23.
Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.07. The company had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. As a group, equities analysts anticipate that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Monday, August 26th. Paycom Software's dividend payout ratio is presently 18.07%.
In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $162.17, for a total value of $316,231.50. Following the sale, the chief executive officer now owns 2,780,160 shares of the company's stock, valued at $450,858,547.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the transaction, the chief financial officer now owns 294,849 shares in the company, valued at approximately $45,990,547.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the company's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $162.17, for a total transaction of $316,231.50. Following the sale, the chief executive officer now owns 2,780,160 shares in the company, valued at $450,858,547.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,906 shares of company stock worth $11,642,951. 14.50% of the stock is currently owned by company insiders.
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.
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