Park Avenue Securities LLC grew its stake in Paycom Software, Inc. (NYSE:PAYC – Free Report) by 6.4% during the first quarter, HoldingsChannel reports. The firm owned 3,138 shares of the software maker’s stock after purchasing an additional 188 shares during the quarter. Park Avenue Securities LLC’s holdings in Paycom Software were worth $686,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of PAYC. Glass Jacobson Investment Advisors llc boosted its stake in shares of Paycom Software by 746.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock valued at $26,000 after buying an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Paycom Software in the fourth quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Paycom Software by 135.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock valued at $33,000 after buying an additional 87 shares in the last quarter. Putney Financial Group LLC purchased a new stake in shares of Paycom Software in the fourth quarter valued at approximately $39,000. Finally, IFP Advisors Inc boosted its stake in shares of Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after buying an additional 178 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have commented on the company. BMO Capital Markets boosted their target price on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a research report on Thursday, May 8th. Wall Street Zen downgraded Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Stifel Nicolaus boosted their target price on Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. KeyCorp boosted their target price on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, Barclays upped their price objective on Paycom Software from $221.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $226.90.
Paycom Software Trading Down 2.6%
NYSE PAYC opened at $244.25 on Friday. The business’s 50-day moving average price is $239.35 and its 200 day moving average price is $222.90. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $267.76. The company has a market capitalization of $14.13 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81.
Paycom Software (NYSE:PAYC – Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The company had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. During the same period in the prior year, the firm posted $2.59 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. Equities analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.
Paycom Software Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were paid a $0.375 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.61%. Paycom Software’s dividend payout ratio (DPR) is currently 21.40%.
Insider Activity
In other Paycom Software news, CEO Chad R. Richison sold 23,200 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the completion of the sale, the chief executive officer now owns 3,224,049 shares in the company, valued at $855,017,794.80. This trade represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Randall Peck sold 890 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the sale, the chief operating officer now owns 49,394 shares of the company’s stock, valued at approximately $13,000,994.74. This trade represents a 1.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 170,516 shares of company stock worth $42,361,668. 10.90% of the stock is currently owned by corporate insiders.
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.
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