Marathon Asset Management Ltd Sells 26,113 Shares of Paycom Software, Inc. (NYSE:PAYC)

18 Oct 2024, 18:08 by Mitch Edgeman · The Markets Daily

Marathon Asset Management Ltd lowered its holdings in shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) by 8.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 268,139 shares of the software maker’s stock after selling 26,113 shares during the quarter. Marathon Asset Management Ltd’s holdings in Paycom Software were worth $44,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paycom Software in the 2nd quarter worth $25,000. Mather Group LLC. bought a new position in Paycom Software in the 1st quarter worth approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in Paycom Software during the 2nd quarter valued at approximately $26,000. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software during the third quarter valued at approximately $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Paycom Software in the second quarter worth $27,000. Institutional investors own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $160.56, for a total transaction of $313,092.00. Following the sale, the chief executive officer now owns 3,004,208 shares of the company’s stock, valued at approximately $482,355,636.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the transaction, the insider now owns 14,769 shares in the company, valued at $2,327,889.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $160.56, for a total transaction of $313,092.00. Following the completion of the sale, the chief executive officer now owns 3,004,208 shares of the company’s stock, valued at approximately $482,355,636.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,906 shares of company stock valued at $11,684,077 over the last ninety days. 14.50% of the stock is owned by company insiders.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $165.23 on Friday. The stock has a 50 day moving average price of $164.04 and a 200 day moving average price of $165.28. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.31 and a beta of 1.17. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $274.09.

Paycom Software (NYSE:PAYC – Get Free Report) 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 firm had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. Analysts forecast that Paycom Software, Inc. will post 6.67 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.91%. Paycom Software’s dividend payout ratio is presently 18.27%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Barclays increased their price target on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Jefferies Financial Group reduced their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. TD Cowen increased their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Paycom Software has an average rating of “Hold” and a consensus price target of $180.17.

Read Our Latest Analysis on PAYC

Paycom Software Company Profile

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