Dakota Wealth Management Purchases Shares of 22,193 Paycom Software, Inc. (NYSE:PAYC)

Dakota Wealth Management purchased a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,193 shares of the software maker's stock, valued at approximately $4,849,000.

Other institutional investors have also added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc boosted its holdings in Paycom Software by 746.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after acquiring an additional 112 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Paycom Software during the first quarter worth about $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Paycom Software during the fourth quarter worth about $30,000. Golden State Wealth Management LLC lifted its holdings in shares of Paycom Software by 112.3% during the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after purchasing an additional 73 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted 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 worth $33,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 23,200 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the completion of the sale, the chief executive officer directly owned 3,224,049 shares in the company, valued at approximately $855,017,794.80. The trade was a 0.71% 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 the SEC website. Also, 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 sale, the insider owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,016 shares of company stock worth $42,736,608. 10.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of research reports. BMO Capital Markets lifted 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. Barclays lifted their target price on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Needham & Company LLC reaffirmed 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 Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a report 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $226.90.

Paycom Software Price Performance

NYSE:PAYC traded up $1.60 during trading hours on Wednesday, reaching $223.33. The company had a trading volume of 421,382 shares, compared to its average volume of 654,829. Paycom Software, Inc. has a 1-year low of $152.45 and a 1-year high of $267.76. The firm has a market cap of $12.92 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 2.44 and a beta of 0.77. The business's 50 day moving average price is $245.35 and its 200-day moving average price is $223.81.

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

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's payout ratio is 21.40%.

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.