Asahi Life Asset Management CO. LTD. Takes $336,000 Position in Paycom Software, Inc. (NYSE:PAYC)

Asahi Life Asset Management CO. LTD. acquired a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,540 shares of the software maker's stock, valued at approximately $336,000.

Other institutional investors have also recently made changes to their positions in the company. von Borstel & Associates Inc. purchased a new position in Paycom Software during the 1st quarter valued at approximately $27,000. Glass Jacobson Investment Advisors llc grew its holdings in 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 buying an additional 112 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock valued at $30,000 after buying an additional 73 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Paycom Software during the 4th quarter valued at approximately $30,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Paycom Software by 135.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PAYC. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. BMO Capital Markets boosted their price objective on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. KeyCorp boosted their price objective on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Stifel Nicolaus boosted their price objective on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Finally, Piper Sandler boosted their price objective on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" 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's stock. Based on data from MarketBeat, Paycom Software presently has a consensus rating of "Hold" and a consensus target price of $226.90.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 120,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the transaction, the chief executive officer directly owned 3,307,249 shares in the company, valued at $805,381,276.48. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the transaction, the chief operating officer owned 49,394 shares of the company's stock, valued at approximately $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,016 shares of company stock worth $42,736,608 over the last ninety days. Company insiders own 10.90% of the company's stock.

Paycom Software Price Performance

NYSE PAYC traded up $0.03 during trading hours on Tuesday, reaching $222.03. The company's stock had a trading volume of 468,707 shares, compared to its average volume of 657,097. The firm has a market capitalization of $12.84 billion, a price-to-earnings ratio of 31.67, a P/E/G ratio of 2.45 and a beta of 0.77. Paycom Software, Inc. has a 1-year low of $152.45 and a 1-year high of $267.76. The company's 50-day moving average is $245.46 and its two-hundred day moving average is $223.82.

Paycom Software (NYSE:PAYC - Get Free Report) last posted 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. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The firm had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. During the same period in the prior year, the company earned $2.59 EPS. The firm's revenue was up 6.1% compared to the same quarter last year. Equities analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.375 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.68%. Paycom Software's dividend payout ratio is currently 21.40%.

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.