J. Safra Sarasin Holding AG Takes $1.62 Million Position in Paycom Software, Inc. $PAYC

J. Safra Sarasin Holding AG purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,020 shares of the software maker’s stock, valued at approximately $1,624,000.

Several other hedge funds also recently made changes to their positions in PAYC. Brighton Jones LLC purchased a new position in shares of Paycom Software in the fourth quarter valued at $638,000. Rhumbline Advisers boosted its stake in Paycom Software by 11.9% during the first quarter. Rhumbline Advisers now owns 102,936 shares of the software maker’s stock valued at $22,489,000 after buying an additional 10,908 shares during the period. NBC Securities Inc. boosted its stake in Paycom Software by 164,900.0% during the first quarter. NBC Securities Inc. now owns 1,650 shares of the software maker’s stock valued at $360,000 after buying an additional 1,649 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Paycom Software by 114.5% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 236 shares of the software maker’s stock valued at $52,000 after buying an additional 126 shares during the period. Finally, Vest Financial LLC bought a new stake in Paycom Software during the first quarter valued at $35,455,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $223.27, for a total transaction of $334,905.00. Following the transaction, the insider owned 24,533 shares in the company, valued at $5,477,482.91. The trade was a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.90% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a research note on Thursday, August 7th. Barclays lifted their price objective on Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. KeyCorp lifted their price target on Paycom Software from $285.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, UBS Group dropped their price target on Paycom Software from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $241.77.

Paycom Software Trading Up 0.4%

NYSE PAYC opened at $202.17 on Friday. Paycom Software, Inc. has a 1-year low of $159.82 and a 1-year high of $267.76. The stock has a 50-day moving average of $222.11 and a 200-day moving average of $229.55. The firm has a market cap of $11.70 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The company had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. During the same quarter in the previous year, the company posted $1.62 EPS. Paycom Software’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, August 25th. Paycom Software’s payout ratio is 20.30%.

Paycom Software Company 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.