Tributary Capital Management LLC Grows Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Tributary Capital Management LLC increased its stake in Paycom Software, Inc. (NYSE:PAYC) by 22.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,215 shares of the software maker’s stock after purchasing an additional 225 shares during the quarter. Tributary Capital Management LLC’s holdings in Paycom Software were worth $174,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Gilliland Jeter Wealth Management LLC purchased a new position in Paycom Software in the second quarter worth about $115,000. Grove Bank & Trust purchased a new position in shares of Paycom Software in the second quarter worth approximately $481,000. Sather Financial Group Inc bought a new stake in Paycom Software during the second quarter valued at approximately $23,519,000. JB Capital LLC increased its holdings in Paycom Software by 31.9% during the second quarter. JB Capital LLC now owns 2,206 shares of the software maker’s stock valued at $315,000 after buying an additional 534 shares during the last quarter. Finally, New York State Teachers Retirement System raised its position in Paycom Software by 13.7% in the second quarter. New York State Teachers Retirement System now owns 57,824 shares of the software maker’s stock worth $8,271,000 after acquiring an additional 6,950 shares during the period. Institutional investors own 87.77% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Amy Vickroy sold 1,381 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the transaction, the executive vice president now owns 19,962 shares in the company, valued at $2,862,351.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Amy Vickroy sold 1,381 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the sale, the executive vice president now directly owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $140.20, for a total value of $273,390.00. Following the transaction, the chief executive officer now owns 3,023,708 shares of the company’s stock, valued at $423,923,861.60. The disclosure for this sale can be found here. Insiders have sold a total of 78,093 shares of company stock worth $11,942,223 in the last 90 days. 14.50% of the stock is currently owned by corporate insiders.

Paycom Software Price Performance

Paycom Software stock opened at $163.23 on Friday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $299.00. The firm’s 50 day moving average price is $153.21 and its 200-day moving average price is $171.26. The stock has a market cap of $9.49 billion, a P/E ratio of 19.88, a PEG ratio of 2.22 and a beta of 1.16.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 26th will be issued a $0.375 dividend. The ex-dividend date is Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a yield of 0.92%. Paycom Software’s dividend payout ratio is currently 18.27%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price objective on shares of Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Citigroup cut their price target on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Jefferies Financial Group reduced their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Barclays lifted their price objective on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Seventeen equities research 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, Paycom Software presently has a consensus rating of “Hold” and an average target price of $178.33.

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.