1,597 Shares in Paycom Software, Inc. (NYSE:PAYC) Purchased by Diversified Trust Co

Diversified Trust Co purchased a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,597 shares of the software maker's stock, valued at approximately $349,000.

A number of other hedge funds have also modified their holdings of the business. Proficio Capital Partners LLC purchased a new position in Paycom Software in the fourth quarter valued at $7,142,000. Glenview Trust co raised its position in Paycom Software by 27.1% in the 4th quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock valued at $2,520,000 after purchasing an additional 2,625 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Paycom Software by 57.1% in the 1st quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker's stock valued at $587,000 after buying an additional 976 shares during the period. American Century Companies Inc. grew its position in shares of Paycom Software by 43.0% during the fourth quarter. American Century Companies Inc. now owns 52,755 shares of the software maker's stock worth $10,813,000 after buying an additional 15,852 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Paycom Software by 11.9% during the first quarter. Rhumbline Advisers now owns 102,936 shares of the software maker's stock worth $22,489,000 after buying an additional 10,908 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several recent analyst reports. BMO Capital Markets lifted their price objective on shares of Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a research report on Thursday, May 8th. Stifel Nicolaus boosted their target price on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Barclays raised their price objective on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Finally, 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. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $226.90.

Paycom Software Stock Performance

Shares of NYSE:PAYC traded up $4.17 during trading on Thursday, hitting $232.30. The company's stock had a trading volume of 135,136 shares, compared to its average volume of 661,535. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $267.76. The company has a market capitalization of $13.44 billion, a PE ratio of 33.07, a PEG ratio of 2.58 and a beta of 0.77. The stock's 50-day moving average price is $245.21 and its two-hundred day moving average price is $222.77.

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

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio is presently 21.40%.

Insider Transactions at Paycom Software

In other Paycom Software news, COO Randall Peck sold 890 shares of the company'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 value of $234,256.90. Following the transaction, the chief operating officer owned 49,394 shares in the company, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chad R. Richison sold 23,200 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total value of $6,152,640.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 172,016 shares of company stock valued at $42,736,608 over the last quarter. Company insiders own 10.90% of the company's stock.

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.