Baird Financial Group Inc. Acquires 2,306 Shares of Paycom Software, Inc. (NYSE:PAYC)

Baird Financial Group Inc. lifted its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,069 shares of the software maker's stock after purchasing an additional 2,306 shares during the period. Baird Financial Group Inc. owned 0.10% of Paycom Software worth $11,698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in Paycom Software by 22.6% during the fourth quarter. Bank of America Corp DE now owns 272,784 shares of the software maker's stock worth $55,912,000 after acquiring an additional 50,357 shares during the period. Benjamin Edwards Inc. grew its position in Paycom Software by 1.1% during the fourth quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker's stock valued at $1,128,000 after buying an additional 60 shares during the period. BLI Banque de Luxembourg Investments purchased a new stake in Paycom Software during the fourth quarter worth about $15,429,000. AXA S.A. boosted its stake in Paycom Software by 474.4% in the fourth quarter. AXA S.A. now owns 46,409 shares of the software maker's stock valued at $9,512,000 after acquiring an additional 38,330 shares during the last quarter. Finally, Parvin Asset Management LLC purchased a new stake in shares of Paycom Software during the 4th quarter worth approximately $61,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Trading Up 1.4 %

Shares of NYSE:PAYC traded up $3.60 on Friday, reaching $252.95. 730,359 shares of the company traded hands, compared to its average volume of 700,905. The stock has a market capitalization of $14.63 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The business's 50-day simple moving average is $217.84 and its 200 day simple moving average is $214.62. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $255.12.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The firm had revenue of $530.50 million for the quarter, compared to analysts' expectations of $522.92 million. During the same quarter last year, the business earned $2.59 earnings per share. The business's revenue was up 6.1% on a year-over-year basis. Sell-side analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed 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. This represents a $1.50 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is 16.85%.

Insider Transactions at Paycom Software

In related news, COO Randall Peck sold 3,600 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the sale, the chief operating officer now owns 50,665 shares of the company's stock, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Chad R. Richison sold 120,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,307,249 shares of the company's stock, valued at approximately $805,381,276.48. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,100 shares of company stock worth $30,698,424. Company insiders own 10.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Citigroup dropped their price objective on Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Stifel Nicolaus lifted their price target on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday. Barclays increased their price objective on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday. BMO Capital Markets lifted 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. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $226.90.

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.