What processor are you running and what is your other hardware on your computer?
For a system using a single AMD Reference Design Radeon R9 270X graphics card AMD specifies a minimum of a 500 Watt or greater system power supply. The power supply should also have a maximum combined +12 Volt continuous current rating of 30 Amps or greater and have at least two 6-pin PCI Express supplementary power connectors.
While your power supply has a single 12v rail of 40 amps and meets the minimum requirement of 500 watts, it might not have enough power to run all of the other items with it, hence, your issue. If the graphics card isn't getting enough power, it would cause your listed symptoms. You could try another lower end graphics card which uses less power (If you have one lying around) or just pull the card out all together and try the system with integrated graphics (Only if applicable) to see if this seems to fix the issue.
Total Power Supply Wattage is NOT the crucial factor in power supply selection!!! Sufficient Total Combined Continuous Power/Current Available on the +12V Rail(s) rated at 45°C - 50°C ambient temperature, is the most critical factor.
Overclocking of the CPU and/or GPU(s) may require an additional increase to the maximum combined +12 Volt continuous current ratings, recommended above, to meet the increase in power required for the overclock. The additional amount required will depend on the magnitude of the overclock being attempted.
That 500 watt minimum does not take into account a high end processor, periperal cards, extra fans, or other items that pull power from the power supply.
I would consider trying a power supply of 700w or higher as a boosted processor can easily pull an additional 200w.
I hope that helps.