Absher Wealth Management LLC Raises Stake in Paycom Software, Inc. (NYSE:PAYC)

Absher Wealth Management LLC increased its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 94.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,801 shares of the software maker's stock after acquiring an additional 1,843 shares during the period. Absher Wealth Management LLC's holdings in Paycom Software were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PAYC. Good Steward Wealth Advisors LLC bought a new position in shares of Paycom Software in the 1st quarter worth $210,000. PUREfi Wealth LLC increased its holdings in shares of Paycom Software by 33.9% in the 1st quarter. PUREfi Wealth LLC now owns 1,877 shares of the software maker's stock worth $410,000 after buying an additional 475 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Paycom Software by 5.5% during the 1st quarter. Grove Bank & Trust now owns 6,138 shares of the software maker's stock valued at $1,341,000 after purchasing an additional 322 shares during the last quarter. QRG Capital Management Inc. bought a new position in shares of Paycom Software during the 1st quarter valued at $528,000. Finally, Sowell Financial Services LLC bought a new position in shares of Paycom Software during the 1st quarter valued at $415,000. Institutional investors own 87.77% of the company's stock.

Paycom Software Price Performance

NYSE PAYC traded up $0.85 during trading hours on Monday, reaching $233.00. 515,342 shares of the company's stock traded hands, compared to its average volume of 664,866. The firm has a 50-day simple moving average of $242.95 and a 200 day simple moving average of $222.98. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $267.76. The firm has a market cap of $13.48 billion, a PE ratio of 33.24, a PEG ratio of 2.56 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The firm had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. During the same period in the previous year, the business posted $2.59 earnings per share. The business's revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were paid a $0.375 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. Paycom Software's dividend payout ratio is presently 21.40%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler increased 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. BMO Capital Markets increased their price target on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Stifel Nicolaus increased their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. KeyCorp increased their price target on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Barclays increased their price target on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research report 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 data from MarketBeat.com, Paycom Software has a consensus rating of "Hold" and a consensus price target of $226.90.

Insider Transactions at Paycom Software

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 shares were sold at an average price of $249.96, for a total transaction of $374,940.00. Following the completion of the sale, the insider now directly owns 27,233 shares in the company, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Chad R. Richison sold 23,200 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the sale, the chief executive officer now owns 3,224,049 shares of the company's stock, valued at $855,017,794.80. This trade represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,016 shares of company stock worth $42,736,608 over the last three months. 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.