Baader Bank Aktiengesellschaft Makes New $2.20 Million Investment in Paycom Software, Inc. (NYSE:PAYC)

Key Points

• Baader Bank Aktiengesellschaft acquired a new position in Paycom Software, purchasing 10,114 shares valued at approximately $2.20 million.
• Insider trading activity included CEO Chad R. Richison selling 23,200 shares for over $6 million, while insider Bradley Scott Smith sold 1,500 shares for $374,940.
• Analyst ratings for Paycom Software are predominantly "hold", with a consensus target price of $226.90, reflecting a lack of enthusiasm among analysts despite recent price target upgrades.

Baader Bank Aktiengesellschaft bought a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,114 shares of the software maker's stock, valued at approximately $2,204,000.

Several other hedge funds have also added to or reduced their stakes in PAYC. Glass Jacobson Investment Advisors llc boosted its position in shares of Paycom Software by 746.7% during the fourth 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 during the last quarter. von Borstel & Associates Inc. bought a new position in shares of Paycom Software in the first quarter worth about $27,000. Golden State Wealth Management LLC raised its stake in shares of Paycom Software by 112.3% in the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after buying an additional 73 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Paycom Software by 135.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after buying an additional 87 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in shares of Paycom Software in the first quarter worth about $35,000. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PAYC has been the topic of several recent analyst reports. Piper Sandler lifted their target price on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. BMO Capital Markets upped their price objective on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. KeyCorp upped their price target on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, Barclays lifted their price target 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. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $226.90.

Paycom Software Stock Down 2.2%

Shares of NYSE:PAYC traded down $5.01 during trading on Friday, reaching $226.53. 580,497 shares of the company's stock traded hands, compared to its average volume of 463,397. Paycom Software, Inc. has a fifty-two week low of $152.46 and a fifty-two week high of $267.76. The firm has a market cap of $13.10 billion, a PE ratio of 32.32, a P/E/G ratio of 2.55 and a beta of 0.81. The company has a 50-day simple moving average of $240.12 and a 200-day simple moving average of $226.16.

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

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is 21.40%.

Insiders Place Their Bets

In other news, COO Randall Peck sold 890 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were 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 owned 49,394 shares in the company, valued at $13,000,994.74. This trade represents a 1.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 1,500 shares of Paycom Software 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 owned 27,233 shares of the company's stock, valued at $6,807,160.68. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,016 shares of company stock valued at $42,736,608 in the last ninety days. 10.90% of the stock is currently owned by corporate insiders.

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.