Bank Hapoalim BM Decreases Position in Paycom Software, Inc. (NYSE:PAYC)

Bank Hapoalim BM trimmed its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 12.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,873 shares of the software maker’s stock after selling 257 shares during the quarter. Bank Hapoalim BM’s holdings in Paycom Software were worth $312,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PAYC. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Paycom Software by 29.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock worth $12,848,000 after acquiring an additional 14,670 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Paycom Software by 17.7% in the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock valued at $11,790,000 after purchasing an additional 8,927 shares during the last quarter. Sylebra Capital LLC acquired a new position in Paycom Software in the first quarter valued at $253,196,000. Profund Advisors LLC acquired a new position in Paycom Software in the second quarter valued at $589,000. Finally, BOKF NA increased its stake in Paycom Software by 453.0% in the first 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 during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Trading Up 20.1 %

PAYC traded up $34.61 on Thursday, hitting $206.86. 297,155 shares of the stock traded hands, compared to its average volume of 806,496. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $247.42. The firm has a market capitalization of $11.88 billion, a PE ratio of 24.92, a P/E/G ratio of 2.34 and a beta of 1.17. The business has a fifty day moving average price of $165.64 and a two-hundred day moving average price of $162.91.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data 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. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The company had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. On average, equities research analysts forecast that Paycom Software, Inc. will post 6.64 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. Paycom Software’s dividend payout ratio is currently 18.07%.

Analysts Set New Price Targets

Several equities analysts recently commented on PAYC shares. TD Cowen upped their target price on 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 upped their target price on Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Barclays upped their price target on Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. BMO Capital Markets upped their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $182.92.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $155.63, for a total value of $303,478.50. Following the transaction, the chief executive officer now directly owns 2,978,858 shares of the company’s stock, valued at $463,599,670.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.63, for a total transaction of $303,478.50. Following the transaction, the chief executive officer now owns 2,978,858 shares of the company’s stock, valued at approximately $463,599,670.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the transaction, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,906 shares of company stock valued at $11,714,536 in the last three months. 12.60% of the stock is owned by corporate insiders.

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.