Focus Partners Wealth Makes New Investment in Paycom Software, Inc. (NYSE:PAYC)

Focus Partners Wealth acquired a new stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,228 shares of the software maker's stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Glass Jacobson Investment Advisors llc increased its position in Paycom Software by 746.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after purchasing an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Paycom Software in the fourth quarter worth $30,000. IFP Advisors Inc increased its position in Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock worth $43,000 after purchasing an additional 178 shares during the last quarter. Parvin Asset Management LLC bought a new stake in Paycom Software in the fourth quarter worth $61,000. Finally, Blue Trust Inc. increased its position in Paycom Software by 33.3% in the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock worth $72,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

Paycom Software Stock Performance

NYSE PAYC traded down $3.59 on Friday, hitting $257.91. 412,519 shares of the stock were exchanged, compared to its average volume of 700,583. The firm has a market capitalization of $14.92 billion, a P/E ratio of 28.98, a P/E/G ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $262.80. The stock has a fifty day moving average price of $227.45 and a two-hundred day moving average price of $219.63.

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, beating analysts' consensus estimates of $2.62 by $0.18. The firm had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The business's revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.59 earnings per share. Sell-side analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, May 27th. Paycom Software's dividend payout ratio is currently 21.40%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PAYC. KeyCorp boosted their price target on shares of Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Piper Sandler boosted their price target on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Barclays boosted their price target on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $226.90.

Insider Activity

In related news, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the sale, the director now directly owns 7,730 shares in the company, valued at $1,686,840.60. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $243.52, for a total value of $29,222,400.00. Following the completion of the sale, the chief executive officer now owns 3,307,249 shares of the company's stock, valued at $805,381,276.48. The trade was 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 149,926 shares of company stock valued at $36,686,912. 10.90% of the stock is currently owned by company insiders.

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.