Mediolanum International Funds Ltd Reduces Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Mediolanum International Funds Ltd cut its stake in Paycom Software, Inc. (NYSE:PAYC) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,561 shares of the software maker’s stock after selling 3,440 shares during the quarter. Mediolanum International Funds Ltd owned about 0.07% of Paycom Software worth $6,460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Paycom Software by 29.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after buying an additional 14,670 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Paycom Software by 17.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock worth $11,790,000 after acquiring an additional 8,927 shares during the period. Sylebra Capital LLC purchased a new stake in Paycom Software in the 1st quarter worth approximately $253,196,000. Profund Advisors LLC bought a new position in Paycom Software in the 2nd quarter valued at $589,000. Finally, BOKF NA grew its position in shares of Paycom Software by 453.0% during the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock valued at $1,828,000 after purchasing an additional 7,552 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Price Performance

Shares of PAYC stock opened at $164.60 on Friday. The stock has a market capitalization of $9.45 billion, a PE ratio of 19.83, a P/E/G ratio of 2.35 and a beta of 1.17. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $253.33. The business has a 50-day moving average of $165.06 and a 200 day moving average of $163.90.

Paycom Software (NYSE:PAYC) last issued 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 during the quarter, compared to analysts’ expectations of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. Analysts anticipate that Paycom Software, Inc. will post 6.67 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently declared 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. This represents a $1.50 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s payout ratio is 18.07%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $164.29, for a total transaction of $320,365.50. Following the completion of the transaction, the chief executive officer now owns 2,760,660 shares of the company’s stock, valued at $453,548,831.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now directly owns 14,769 shares in the company, valued at $2,327,889.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $164.29, for a total value of $320,365.50. Following the sale, the chief executive officer now owns 2,760,660 shares in the company, valued at $453,548,831.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,906 shares of company stock valued at $11,716,837 in the last 90 days. Insiders own 14.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PAYC shares. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. TD Cowen raised their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Jefferies Financial Group raised their price objective on shares of Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Tuesday. Barclays raised their price target on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Paycom Software presently has an average rating of “Hold” and a consensus target price of $182.25.

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.