Paycom Software, Inc. (NYSE:PAYC) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 14.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,756 shares of the software maker's stock after acquiring an additional 3,094 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Paycom Software were worth $4,124,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PAYC. Ashton Thomas Private Wealth LLC bought a new position in Paycom Software during the second quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Paycom Software during the 2nd quarter valued at $26,000. Armstrong Advisory Group Inc. bought a new position in shares of Paycom Software during the 3rd quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software in the 2nd quarter worth about $27,000. Finally, Palisade Asset Management LLC bought a new stake in Paycom Software in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Performance

Paycom Software stock traded up $1.62 during trading on Friday, reaching $210.65. The company had a trading volume of 1,109,981 shares, compared to its average volume of 818,636. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $222.30. The firm has a market capitalization of $12.10 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 2.45 and a beta of 1.17. The firm's 50-day simple moving average is $166.62 and its 200 day simple moving average is $163.23.

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 (EPS) for the quarter, topping 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 33.34% and a net margin of 25.78%. Analysts anticipate that Paycom Software, Inc. will post 6.64 EPS for the current 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. This represents a $1.50 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software's payout ratio is currently 18.05%.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $158.31, for a total value of $308,704.50. Following the sale, the chief executive officer now directly owns 2,984,708 shares in the company, valued at $472,509,123.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $158.31, for a total transaction of $308,704.50. Following the sale, the chief executive officer now owns 2,984,708 shares in the company, valued at approximately $472,509,123.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the transaction, the chief financial officer now owns 294,849 shares in the company, valued at approximately $45,990,547.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,906 shares of company stock valued at $11,731,540. 14.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PAYC. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday, August 1st. TD Cowen lifted their price objective 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. Piper Sandler boosted their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday. BMO Capital Markets raised their price target on Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a report on Thursday. Finally, Barclays boosted their price objective on Paycom Software from $172.00 to $181.00 and gave the company an "equal weight" rating in a research note on Thursday. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $186.92.

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.