Opal Wealth Advisors LLC Invests $35,000 in Paycom Software, Inc. (NYSE:PAYC)

Opal Wealth Advisors LLC purchased a new position in Paycom Software, Inc. (NYSE:PAYC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 159 shares of the software maker’s stock, valued at approximately $35,000.

Several other large investors have also recently made changes to their positions in PAYC. Brighton Jones LLC acquired a new position in Paycom Software during the 4th quarter valued at about $638,000. Empowered Funds LLC increased its position in Paycom Software by 156.9% during the 4th quarter. Empowered Funds LLC now owns 6,478 shares of the software maker’s stock valued at $1,328,000 after buying an additional 3,956 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Paycom Software by 1.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 34,361 shares of the software maker’s stock valued at $6,920,000 after buying an additional 417 shares in the last quarter. Van ECK Associates Corp increased its position in Paycom Software by 10.6% during the 4th quarter. Van ECK Associates Corp now owns 11,560 shares of the software maker’s stock valued at $2,369,000 after buying an additional 1,108 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in Paycom Software by 0.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 20,240 shares of the software maker’s stock valued at $4,184,000 after buying an additional 79 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the transaction, the insider now owns 27,233 shares in the company, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 120,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the transaction, the chief executive officer now owns 3,307,249 shares in the company, valued at $805,381,276.48. This represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,016 shares of company stock worth $42,736,608 over the last quarter. 10.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

PAYC has been the topic of several recent analyst reports. BMO Capital Markets upped their target price on Paycom Software from $215.00 to $244.00 and gave the company 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 note on Tuesday, March 4th. KeyCorp boosted their price target on Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, May 8th. Finally, Stifel Nicolaus boosted their price target on Paycom Software from $187.00 to $215.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and a consensus target price of $226.90.

Paycom Software Stock Up 0.5%

Shares of PAYC opened at $246.24 on Tuesday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $267.76. The company has a market capitalization of $14.25 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 2.40 and a beta of 0.81. The stock’s 50-day moving average price is $240.37 and its 200-day moving average price is $222.79.

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

Paycom Software Announces Dividend

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 of this dividend was Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.61%. Paycom Software’s payout ratio is 21.40%.

Paycom Software Company 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.