Paycom Software, Inc. (NYSE:PAYC) Position Increased by Congress Asset Management Co.

Congress Asset Management Co. grew its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 246.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,383 shares of the software maker's stock after purchasing an additional 2,406 shares during the period. Congress Asset Management Co.'s holdings in Paycom Software were worth $739,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PAYC. Glass Jacobson Investment Advisors llc increased its position in Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after acquiring an additional 112 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Paycom Software in the fourth quarter worth $30,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Paycom Software by 135.9% during the first 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. Putney Financial Group LLC acquired a new position in Paycom Software during the 4th quarter valued at about $39,000. Finally, IFP Advisors Inc lifted its stake in shares of Paycom Software by 635.7% in the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock worth $43,000 after acquiring an additional 178 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 120,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 3,307,249 shares in the company, valued at approximately $805,381,276.48. This trade represents a 3.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Randall Peck sold 890 shares of the company's stock in a transaction dated 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 now owns 49,394 shares in the company, valued at $13,000,994.74. This represents a 1.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 170,516 shares of company stock valued at $42,361,668 over the last quarter. Company insiders own 10.90% of the company's stock.

Paycom Software Stock Performance

PAYC traded down $1.01 during trading on Thursday, reaching $250.79. The company had a trading volume of 685,798 shares, compared to its average volume of 675,065. The firm's 50-day simple moving average is $238.25 and its 200 day simple moving average is $222.79. The company has a market cap of $14.51 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.40 and a beta of 0.81. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $270.20.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The business had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same quarter in the previous year, the business earned $2.59 earnings per share. The firm's revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts expect 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. Stockholders of record on Tuesday, May 27th were issued a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.60%. Paycom Software's payout ratio is currently 21.40%.

Analyst Ratings Changes

A number of research analysts recently commented on PAYC shares. BMO Capital Markets raised their price objective on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research note on Thursday, May 8th. Barclays lifted their price target on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Stifel Nicolaus lifted their target price on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, KeyCorp boosted their price target on shares of Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Paycom Software has a consensus rating of "Hold" and a consensus target price of $226.90.

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.