Vest Financial LLC Invests $35.46 Million in Paycom Software, Inc. (NYSE:PAYC)

Vest Financial LLC purchased a new stake 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 purchased 162,280 shares of the software maker's stock, valued at approximately $35,455,000. Vest Financial LLC owned 0.28% of Paycom Software at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its position in Paycom Software by 137.8% during the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock valued at $491,201,000 after purchasing an additional 1,388,533 shares in the last quarter. Sylebra Capital LLC boosted its position in Paycom Software by 63.8% during the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock valued at $658,996,000 after purchasing an additional 1,252,617 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in 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 valued at $82,375,000 after purchasing an additional 369,825 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Paycom Software during the fourth quarter valued at about $63,923,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in Paycom Software during the fourth quarter valued at about $60,882,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Up 0.7%

Shares of NYSE:PAYC traded up $1.76 during trading on Friday, hitting $265.69. The stock had a trading volume of 348,667 shares, compared to its average volume of 678,247. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $267.76. The stock has a market capitalization of $15.37 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81. The stock has a 50-day simple moving average of $235.57 and a two-hundred day simple moving average of $222.19.

Paycom Software (NYSE:PAYC - Get Free Report) last announced 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. 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 during the quarter, compared to analysts' expectations of $522.92 million. During the same period last year, the business posted $2.59 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current 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 $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Tuesday, May 27th. Paycom Software's payout ratio is 21.40%.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 26,426 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the completion of the sale, the chief executive officer now directly owns 3,277,249 shares in the company, valued at approximately $837,402,664.48. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now owns 28,733 shares of the company's stock, valued at $5,775,620.33. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 173,516 shares of company stock worth $42,964,698. 10.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PAYC shares. Wall Street Zen downgraded Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Piper Sandler raised their price objective on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised their price objective on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. BMO Capital Markets raised their price objective 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. Finally, KeyCorp raised their price target on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a report 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. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $226.90.

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.