Paycom Software, Inc. (NYSE:PAYC) Shares Acquired by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 114.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 236 shares of the software maker’s stock after purchasing an additional 126 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Paycom Software were worth $52,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Sylebra Capital LLC lifted its position in Paycom Software by 63.8% during the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker’s stock worth $658,996,000 after buying an additional 1,252,617 shares during the period. FMR LLC raised its holdings in shares of Paycom Software by 137.8% in the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock worth $491,201,000 after purchasing an additional 1,388,533 shares during the period. Geode Capital Management LLC raised its holdings in shares of Paycom Software by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker’s stock worth $310,245,000 after purchasing an additional 89,848 shares during the period. Northern Trust Corp raised its holdings in shares of Paycom Software by 10.9% in the 4th quarter. Northern Trust Corp now owns 724,016 shares of the software maker’s stock worth $148,402,000 after purchasing an additional 70,897 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Paycom Software by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker’s stock worth $102,090,000 after purchasing an additional 11,611 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 26,426 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $255.52, for a total value of $6,752,371.52. Following the completion of the transaction, the chief executive officer now directly owns 3,277,249 shares of the company’s stock, valued at approximately $837,402,664.48. This represents a 0.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the transaction, the insider now directly owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 173,516 shares of company stock worth $42,964,698 in the last 90 days. 10.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Stifel Nicolaus raised their price objective on Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their price objective on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th. BMO Capital Markets raised their target price on Paycom Software from $215.00 to $244.00 and gave the company a “market perform” rating in a report on Thursday, May 8th. Finally, Wall Street Zen downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $226.90.

Paycom Software Trading Up 0.7%

Shares of PAYC stock opened at $265.69 on Monday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $267.76. The company has a market capitalization of $15.37 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 2.40 and a beta of 0.81. The stock’s fifty day simple moving average is $235.57 and its 200-day simple moving average is $222.20.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.18. The company had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.59 EPS. On average, sell-side analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.375 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.56%. Paycom Software’s dividend payout ratio (DPR) is presently 21.40%.

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.