Clear Creek Financial Management LLC Purchases Shares of 1,185 Paycom Software, Inc. (NYSE:PAYC)

Clear Creek Financial Management LLC acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,185 shares of the software maker's stock, valued at approximately $259,000.

Several other hedge funds have also made changes to their positions in the business. FMR LLC increased its position in shares of Paycom Software by 137.8% during the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock worth $491,201,000 after acquiring an additional 1,388,533 shares during the last quarter. Sylebra Capital LLC increased its position in shares of 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 acquiring an additional 1,252,617 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Paycom Software by 1,153.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock worth $82,375,000 after acquiring an additional 369,825 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Paycom Software during the fourth quarter worth about $63,923,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Paycom Software during the fourth quarter worth about $60,882,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays lifted their price target on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Stifel Nicolaus lifted their price target on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Piper Sandler lifted their price target on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. KeyCorp lifted their price target on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, 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 research note on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $226.90.

Insider Buying and Selling

In related news, insider Bradley Scott Smith sold 1,500 shares of the business's 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 sale, the insider owned 27,233 shares of the company's stock, valued at $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Randall Peck sold 890 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total value of $234,256.90. Following the sale, the chief operating officer directly owned 49,394 shares in the company, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,016 shares of company stock valued at $42,736,608 over the last quarter. Corporate insiders own 10.90% of the company's stock.

Paycom Software Price Performance

Shares of NYSE PAYC traded down $0.98 during midday trading on Monday, hitting $232.09. 511,838 shares of the company's stock were exchanged, compared to its average volume of 663,552. The stock's 50 day moving average price is $245.44 and its 200-day moving average price is $222.98. The firm has a market cap of $13.43 billion, a P/E ratio of 33.11, a PEG ratio of 2.57 and a beta of 0.77. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The business's revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.59 earnings per share. On average, analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.65%. Paycom Software's payout ratio is 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.