EP Wealth Advisors LLC Makes New Investment in Paycom Software, Inc. (NYSE:PAYC)

EP Wealth Advisors LLC bought a new stake in Paycom Software, Inc. (NYSE:PAYC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,485 shares of the software maker’s stock, valued at approximately $247,000.

A number of other institutional investors have also made changes to their positions in the business. Kovitz Investment Group Partners LLC grew its holdings in Paycom Software by 17.3% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,845 shares of the software maker’s stock worth $2,639,000 after acquiring an additional 2,342 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Paycom Software by 144.6% during the third quarter. Wellington Management Group LLP now owns 16,803 shares of the software maker’s stock worth $2,799,000 after purchasing an additional 9,933 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Paycom Software by 18.5% during the third quarter. Stifel Financial Corp now owns 41,071 shares of the software maker’s stock valued at $6,841,000 after purchasing an additional 6,421 shares during the last quarter. QSV Equity Investors LLC acquired a new stake in shares of Paycom Software in the third quarter valued at approximately $317,000. Finally, Quantinno Capital Management LP raised its position in Paycom Software by 234.0% in the 3rd quarter. Quantinno Capital Management LP now owns 19,120 shares of the software maker’s stock worth $3,185,000 after purchasing an additional 13,396 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on PAYC shares. BMO Capital Markets increased their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Citigroup raised their price target on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group upped their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. TD Cowen raised their target price on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Finally, Mizuho boosted their price target on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $202.56.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $170.19, for a total transaction of $331,870.50. Following the completion of the sale, the chief executive officer now directly owns 2,810,910 shares of the company’s stock, valued at approximately $478,388,772.90. This represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 48,750 shares of company stock valued at $8,771,880. 14.50% of the stock is owned by company insiders.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $234.50 on Friday. The firm has a 50 day moving average price of $204.13 and a 200 day moving average price of $173.15. The stock has a market cap of $13.52 billion, a P/E ratio of 28.22, a P/E/G ratio of 3.20 and a beta of 1.11. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

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.