Reinhart Partners LLC. Invests $7.80 Million in Paycom Software, Inc. (NYSE:PAYC)

Reinhart Partners LLC. purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 46,836 shares of the software maker’s stock, valued at approximately $7,801,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paycom Software during the 2nd quarter worth approximately $25,000. Mather Group LLC. acquired a new stake in Paycom Software during the 1st quarter worth $26,000. MFA Wealth Advisors LLC purchased a new stake in Paycom Software in the second quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Paycom Software in the second quarter valued at $27,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Paycom Software during the first quarter worth about $32,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $153.86, for a total value of $300,027.00. Following the completion of the transaction, the chief executive officer now directly owns 3,017,858 shares of the company’s stock, valued at $464,327,631.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $153.86, for a total value of $300,027.00. Following the sale, the chief executive officer now directly owns 3,017,858 shares of the company’s stock, valued at approximately $464,327,631.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the completion of the sale, the chief financial officer now owns 294,849 shares in the company, valued at $45,990,547.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,906 shares of company stock worth $11,642,951. 14.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PAYC has been the subject of several research reports. Citigroup reduced their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. TD Cowen boosted their price objective on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Barclays raised their target price on shares of Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and an average target price of $180.17.

Paycom Software Stock Down 0.9 %

Shares of Paycom Software stock opened at $162.50 on Friday. The firm has a market cap of $9.33 billion, a price-to-earnings 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. The company’s 50-day simple moving average is $163.47 and its 200-day simple moving average is $166.37.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The business had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. Equities research analysts anticipate that Paycom Software, Inc. will post 6.67 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a dividend of $0.375 per share. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.92%. Paycom Software’s payout ratio is currently 18.07%.

Paycom Software Profile

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.