ASR Vermogensbeheer N.V. Acquires New Holdings in Paycom Software, Inc. (NYSE:PAYC)

Key Points

• ASR Vermogensbeheer N.V. invested approximately $432,000 in Paycom Software, Inc., acquiring 1,979 shares during the first quarter.
• A number of institutional investors have also increased their stakes in Paycom Software, leading to an institutional ownership of 87.77% of the company's stock.
• Wall Street analysts have raised their price targets for Paycom Software, with Barclays lifting the target from $240.00 to $250.00, reflecting a generally positive outlook on the stock.

ASR Vermogensbeheer N.V. acquired a new stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,979 shares of the software maker's stock, valued at approximately $432,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PAYC. Glass Jacobson Investment Advisors llc boosted its position 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 purchasing an additional 112 shares during the period. von Borstel & Associates Inc. acquired a new position in Paycom Software during the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its position 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 purchasing an additional 73 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position 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 purchasing an additional 87 shares during the period. Finally, Opal Wealth Advisors LLC bought a new stake in Paycom Software during the 1st quarter valued at $35,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the transaction, the insider owned 27,233 shares in the company, valued at $6,807,160.68. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Chad R. Richison sold 23,200 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total value of $6,152,640.00. Following the sale, the chief executive officer owned 3,224,049 shares of the company's stock, valued at $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. Insiders sold 25,590 shares of company stock worth $6,761,837 in the last quarter. 10.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on PAYC shares. Stifel Nicolaus boosted their price target 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 boosted their price target on Paycom Software from $244.00 to $258.00 and gave the stock a "market perform" rating in a research report on Thursday, August 7th. Barclays boosted their price target on Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. boosted their price target on Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Paycom Software presently has an average rating of "Hold" and an average price target of $234.80.

Paycom Software Trading Down 2.9%

PAYC stock traded down $6.38 during trading hours on Tuesday, hitting $214.66. 769,665 shares of the stock traded hands, compared to its average volume of 615,285. The stock has a 50-day simple moving average of $234.64 and a 200 day simple moving average of $227.30. Paycom Software, Inc. has a one year low of $152.46 and a one year high of $267.76. The company has a market cap of $12.42 billion, a P/E ratio of 29.05, a P/E/G ratio of 2.50 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%. The business had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. During the same quarter last year, the company posted $1.62 EPS. Paycom Software's revenue for the quarter was up 10.5% on a year-over-year basis. Analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be given a $0.375 dividend. The ex-dividend date is Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software's dividend payout ratio (DPR) is 20.30%.

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.