Accurate Wealth Management LLC Boosts Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Accurate Wealth Management LLC boosted its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 37.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,585 shares of the software maker's stock after purchasing an additional 1,792 shares during the period. Accurate Wealth Management LLC's holdings in Paycom Software were worth $1,421,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PAYC. Glass Jacobson Investment Advisors llc boosted its stake in shares of Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after purchasing an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Paycom Software during the 4th quarter worth $30,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Paycom Software by 135.9% in the 1st 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. Putney Financial Group LLC acquired a new stake in shares of Paycom Software during the fourth quarter worth $39,000. Finally, IFP Advisors Inc lifted its stake in Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock valued at $43,000 after buying an additional 178 shares during the period. 87.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Randall Peck sold 890 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the transaction, the chief operating officer now directly owns 49,394 shares in the company, valued at $13,000,994.74. The trade was a 1.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Chad R. Richison sold 23,200 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total value of $6,152,640.00. Following the completion of the transaction, the chief executive officer now directly owns 3,224,049 shares in the company, valued at approximately $855,017,794.80. The trade was a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,516 shares of company stock valued at $42,964,698. Company insiders own 10.90% of the company's stock.

Paycom Software Price Performance

Shares of NYSE:PAYC traded down $4.39 on Tuesday, hitting $254.06. The company's stock had a trading volume of 501,538 shares, compared to its average volume of 677,422. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $267.76. The company has a market capitalization of $14.70 billion, a PE ratio of 28.55, a PEG ratio of 2.40 and a beta of 0.81. The company has a 50-day simple moving average of $236.37 and a 200 day simple moving average of $222.37.

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

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were issued a $0.375 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a yield of 0.59%. Paycom Software's payout ratio is currently 21.40%.

Analysts Set New Price Targets

PAYC has been the subject of a number of research reports. KeyCorp increased their target price on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Wall Street Zen cut shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Piper Sandler boosted their price objective 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. BMO Capital Markets raised their target price 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. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research report 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 MarketBeat.com, the stock currently has an average 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.