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

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAYC. FMR LLC grew its stake in 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 purchasing an additional 1,388,533 shares during the period. Sylebra Capital LLC boosted its holdings in shares of Paycom Software by 63.8% during the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Paycom Software by 1,153.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock worth $82,375,000 after buying an additional 369,825 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Paycom Software in the 4th quarter valued at $63,923,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Paycom Software in the 4th quarter valued at $60,882,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction 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 directly owned 27,233 shares in the company, valued at approximately $6,807,160.68. This trade represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Chad R. Richison sold 23,200 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total value of $6,152,640.00. Following the completion of the transaction, the chief executive officer directly owned 3,224,049 shares in the company, valued at approximately $855,017,794.80. This represents a 0.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,016 shares of company stock worth $42,736,608. Insiders own 10.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Piper Sandler boosted their target price on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Stifel Nicolaus increased their price target on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, BMO Capital Markets boosted their price objective on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $226.90.

Paycom Software Price Performance

Shares of PAYC stock traded up $4.73 during trading hours on Friday, reaching $232.86. The company had a trading volume of 374,191 shares, compared to its average volume of 663,216. The company has a market cap of $13.47 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $267.76. The business has a fifty day simple moving average of $245.35 and a 200-day simple moving average of $222.77.

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 for the quarter, beating the consensus estimate of $2.62 by $0.18. The business had revenue of $530.50 million for the quarter, compared to analysts' expectations 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 last year, the business earned $2.59 EPS. On average, equities research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently declared 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. This represents a $1.50 annualized dividend and a yield of 0.64%. The ex-dividend date was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is presently 21.40%.

About Paycom Software

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.