Paycom Software, Inc. (NYSE:PAYC) Position Lifted by Banco Santander S.A.

Key Points

• Banco Santander S.A. increased its stake in Paycom Software by 126.6% during the first quarter, owning a total of 10,356 shares valued at approximately $2.26 million.
• Multiple institutional investors have also raised their positions in Paycom Software, indicating strong interest in the company, with 87.77% of the stock now owned by institutions.
• CEO Chad R. Richison sold 23,200 shares of Paycom at an average price of $265.20, resulting in a total transaction value of over $6.15 million, reflecting a 0.71% decrease in his ownership.

Banco Santander S.A. grew its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 126.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,356 shares of the software maker's stock after acquiring an additional 5,786 shares during the period. Banco Santander S.A.'s holdings in Paycom Software were worth $2,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cumberland Partners Ltd boosted its holdings in Paycom Software by 64.5% during the first quarter. Cumberland Partners Ltd now owns 14,025 shares of the software maker's stock worth $3,064,000 after buying an additional 5,500 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Paycom Software by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 6,126 shares of the software maker's stock valued at $1,338,000 after purchasing an additional 165 shares in the last quarter. Commerce Bank lifted its holdings in shares of Paycom Software by 2.2% in the first quarter. Commerce Bank now owns 2,351 shares of the software maker's stock valued at $514,000 after purchasing an additional 50 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Paycom Software by 0.5% in the first quarter. US Bancorp DE now owns 10,421 shares of the software maker's stock valued at $2,277,000 after purchasing an additional 57 shares in the last quarter. Finally, Intrinsic Value Partners LLC lifted its holdings in shares of Paycom Software by 1.0% in the first quarter. Intrinsic Value Partners LLC now owns 10,615 shares of the software maker's stock valued at $2,319,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Insider Transactions at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the transaction, the insider directly owned 27,233 shares in the company, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Randall Peck sold 890 shares of the company's stock in a transaction 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 transaction, the chief operating officer owned 49,394 shares of the company's stock, valued at $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 172,016 shares of company stock valued at $42,736,608 over the last 90 days. Corporate insiders own 10.90% of the company's stock.

Paycom Software Price Performance

PAYC stock traded down $6.02 on Tuesday, hitting $223.30. 568,308 shares of the company were exchanged, compared to its average volume of 495,165. Paycom Software, Inc. has a twelve month low of $152.46 and a twelve month high of $267.76. The business's fifty day moving average is $238.16 and its two-hundred day moving average is $226.72. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.81.

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

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. Paycom Software's dividend payout ratio is presently 21.40%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Stifel Nicolaus upped their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. KeyCorp increased their price objective on 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 reaffirmed a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Finally, Piper Sandler increased 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. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Paycom Software has an average rating of "Hold" and a consensus price target of $226.90.

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.