Absher Wealth Management LLC Grows Position in Paycom Software, Inc. (NYSE:PAYC)

Absher Wealth Management LLC lifted its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 94.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

Several other hedge funds have also recently made changes to their positions in the business. Glass Jacobson Investment Advisors llc lifted its position in shares of Paycom Software by 746.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after acquiring an additional 112 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in Paycom Software in the fourth quarter valued at $30,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after purchasing an additional 87 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of Paycom Software during the 1st quarter worth about $35,000. Finally, Putney Financial Group LLC acquired a new stake in shares of Paycom Software in the 4th quarter valued at about $39,000. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Performance

NYSE:PAYC traded down $12.31 during midday trading on Wednesday, reaching $222.74. 901,445 shares of the stock traded hands, compared to its average volume of 665,146. The stock has a market capitalization of $12.89 billion, a P/E ratio of 31.77, a PEG ratio of 2.59 and a beta of 0.81. The company has a fifty day moving average of $243.56 and a 200 day moving average of $223.04. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, beating the consensus estimate of $2.62 by $0.18. The firm had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.59 earnings per share. On average, analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Tuesday, May 27th. Paycom Software's payout ratio is 21.40%.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 120,000 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the transaction, the chief executive officer now directly owns 3,307,249 shares of the company's stock, valued at approximately $805,381,276.48. The trade was a 3.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Randall Peck sold 890 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the sale, the chief operating officer now directly owns 49,394 shares of the company's stock, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their ownership of the stock. 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. 10.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on PAYC. KeyCorp boosted their target price on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. 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 note on Thursday, May 8th. Barclays upped their target price on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Wall Street Zen cut Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Paycom Software currently has an average rating of "Hold" and a consensus target price of $226.90.

Paycom Software 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.