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

Vest Financial LLC acquired a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 162,280 shares of the software maker's stock, valued at approximately $35,455,000. Vest Financial LLC owned about 0.28% of Paycom Software as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Sylebra Capital LLC increased its holdings in 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 purchasing an additional 1,252,617 shares during the period. FMR LLC grew 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 buying an additional 1,388,533 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Paycom Software by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker's stock worth $310,245,000 after buying an additional 89,848 shares in the last quarter. Northern Trust Corp increased its stake in shares of Paycom Software by 10.9% during the fourth quarter. Northern Trust Corp now owns 724,016 shares of the software maker's stock worth $148,402,000 after buying an additional 70,897 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Paycom Software by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock valued at $102,090,000 after acquiring an additional 11,611 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 120,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the completion of the transaction, the chief executive officer now owns 3,307,249 shares in the company, valued at $805,381,276.48. This represents a 3.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the sale, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 173,516 shares of company stock valued at $42,964,698 over the last 90 days. Corporate insiders own 10.90% of the company's stock.

Paycom Software Trading Down 2.7%

Shares of PAYC traded down $7.23 during mid-day trading on Monday, reaching $258.48. The company had a trading volume of 761,840 shares, compared to its average volume of 678,125. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $267.76. The firm has a fifty day simple moving average of $235.57 and a 200-day simple moving average of $222.17. The stock has a market cap of $14.95 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81.

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 for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. The firm 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 33.53% and a net margin of 26.66%. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.59 earnings per share. As a group, equities analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.58%. Paycom Software's dividend payout ratio is currently 21.40%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. KeyCorp raised their price target on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Stifel Nicolaus raised their target price on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. BMO Capital Markets upped their price target on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, Piper Sandler upped their target price on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Paycom Software has a consensus rating of "Hold" and an average price target 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.