Brown Miller Wealth Management LLC Makes New Investment in Paycom Software, Inc. (NYSE:PAYC)

Brown Miller Wealth Management LLC bought a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,247 shares of the software maker's stock, valued at approximately $272,000.

Several other hedge funds also recently modified their holdings of PAYC. Exchange Traded Concepts LLC boosted its stake in Paycom Software by 15.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker's stock worth $220,000 after buying an additional 136 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Paycom Software in the first quarter worth approximately $35,000. Wealth Enhancement Advisory Services LLC grew its holdings in Paycom Software by 1.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,796 shares of the software maker's stock valued at $5,199,000 after purchasing an additional 367 shares during the period. Willis Investment Counsel increased its position in Paycom Software by 13.4% during the first quarter. Willis Investment Counsel now owns 4,987 shares of the software maker's stock worth $1,090,000 after purchasing an additional 591 shares during the last quarter. Finally, CX Institutional acquired a new position in Paycom Software during the first quarter worth approximately $172,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Price Performance

PAYC traded down $4.68 during trading hours on Tuesday, hitting $241.73. 561,214 shares of the stock were exchanged, compared to its average volume of 672,584. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $267.76. The stock has a 50-day simple moving average of $241.43 and a 200-day simple moving average of $222.89. The stock has a market cap of $13.98 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.59 EPS. Sell-side analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is currently 21.40%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Wall Street Zen lowered Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. BMO Capital Markets boosted their target price on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus raised 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. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $226.90.

Insider Activity

In other news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction 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 transaction, the insider now directly owns 27,233 shares in the company, valued at $6,807,160.68. The trade was a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Randall Peck sold 890 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total value of $234,256.90. Following the sale, the chief operating officer now owns 49,394 shares of the company's stock, valued at approximately $13,000,994.74. This 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 worth $42,736,608 over the last quarter. Corporate insiders own 10.90% of the company's stock.

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.