Stanley Laman Group Ltd. Reduces Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Stanley Laman Group Ltd. cut its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 13.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,226 shares of the software maker's stock after selling 4,497 shares during the quarter. Stanley Laman Group Ltd. owned approximately 0.05% of Paycom Software worth $4,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Castleview Partners LLC boosted its holdings in Paycom Software by 76.8% during the third quarter. Castleview Partners LLC now owns 1,199 shares of the software maker's stock worth $200,000 after purchasing an additional 521 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Paycom Software by 9.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 33,944 shares of the software maker's stock valued at $5,654,000 after acquiring an additional 2,937 shares during the last quarter. Raymond James & Associates boosted its stake in Paycom Software by 20.8% in the third quarter. Raymond James & Associates now owns 243,289 shares of the software maker's stock valued at $40,525,000 after acquiring an additional 41,923 shares during the last quarter. Blue Trust Inc. boosted its stake in Paycom Software by 277.1% in the third quarter. Blue Trust Inc. now owns 264 shares of the software maker's stock valued at $44,000 after acquiring an additional 194 shares during the last quarter. Finally, Accurate Wealth Management LLC boosted its stake in Paycom Software by 37.1% in the third quarter. Accurate Wealth Management LLC now owns 3,463 shares of the software maker's stock valued at $571,000 after acquiring an additional 938 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays boosted their target price on shares of Paycom Software from $167.00 to $172.00 and gave the company an "equal weight" rating in a research note on Friday, October 11th. TD Cowen boosted 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 boosted their price target on shares of Paycom Software from $155.00 to $170.00 and gave the company a "hold" rating in a research report on Tuesday. Finally, StockNews.com lowered shares of Paycom Software from a "buy" rating to a "hold" rating in a research report on Monday, July 15th. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $182.25.

Paycom Software Trading Down 0.8 %

Shares of NYSE:PAYC traded down $1.34 during trading on Wednesday, reaching $165.06. The company had a trading volume of 28,429 shares, compared to its average volume of 810,771. The company has a fifty day moving average of $164.67 and a two-hundred day moving average of $164.15. The stock has a market capitalization of $9.48 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 2.35 and a beta of 1.17. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $264.70.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.07. The firm 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 research analysts predict that Paycom Software, Inc. will post 6.67 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software's payout ratio is 18.07%.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the company's stock in a transaction on Friday, July 26th. The shares were sold at an average price of $163.10, for a total value of $318,045.00. Following the completion of the sale, the chief executive officer now owns 3,000,308 shares of the company's stock, valued at approximately $489,350,234.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction 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 of the company's stock, valued at $45,990,547.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $163.10, for a total transaction of $318,045.00. Following the sale, the chief executive officer now directly owns 3,000,308 shares of the company's stock, valued at $489,350,234.80. The trade was 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 $11,714,516 in the last quarter. Insiders own 14.50% of the company's stock.

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.