Dorsey & Whitney Trust CO LLC Takes $577,000 Position in Paycom Software, Inc. $PAYC

Key Points

• Dorsey & Whitney Trust CO LLC invested approximately $577,000 in Paycom Software, acquiring 2,640 shares in the first quarter.
• Paycom Software has seen several hedge funds increase their stakes, demonstrating significant interest from institutional investors, who own 87.77% of the stock.
• The company recently reported better-than-expected earnings, with $2.06 EPS for the quarter, surpassing estimates of $1.78, and a revenue increase of 10.5% year-over-year.

Dorsey & Whitney Trust CO LLC acquired a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,640 shares of the software maker's stock, valued at approximately $577,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in Paycom Software during the 4th quarter valued at $638,000. GeoWealth Management LLC raised its stake in shares of Paycom Software by 34.6% during the 4th quarter. GeoWealth Management LLC now owns 568 shares of the software maker's stock valued at $116,000 after buying an additional 146 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Paycom Software by 20.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 300,538 shares of the software maker's stock valued at $61,603,000 after buying an additional 51,317 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Paycom Software during the 4th quarter valued at about $677,000. Finally, MetLife Investment Management LLC increased its stake in shares of Paycom Software by 1.2% in the 4th quarter. MetLife Investment Management LLC now owns 14,321 shares of the software maker's stock valued at $2,935,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Insider Activity at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software 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 completion of the sale, the insider owned 27,233 shares of the company's stock, valued at $6,807,160.68. This trade represents a 5.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Chad R. Richison sold 23,200 shares of Paycom Software stock in a transaction 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 transaction, the chief executive officer owned 3,224,049 shares in the company, valued at $855,017,794.80. This trade represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,590 shares of company stock worth $6,761,837 over the last quarter. 10.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PAYC has been the subject of several research reports. Stifel Nicolaus boosted their price objective on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Cantor Fitzgerald initiated coverage on Paycom Software in a research note on Thursday, August 14th. They set a "neutral" rating and a $230.00 price target on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Barclays increased their target price on Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, Piper Sandler increased their target price on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, Paycom Software currently has a consensus rating of "Hold" and an average price target of $234.36.

Paycom Software Trading Up 0.3%

NYSE:PAYC traded up $0.61 on Wednesday, reaching $226.58. The stock had a trading volume of 103,893 shares, compared to its average volume of 624,673. Paycom Software, Inc. has a 12-month low of $153.08 and a 12-month high of $267.76. The company has a 50-day moving average of $228.80 and a 200 day moving average of $228.57. The stock has a market cap of $13.11 billion, a P/E ratio of 30.63, a price-to-earnings-growth ratio of 2.52 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating the consensus estimate of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. During the same quarter last year, the business earned $1.62 earnings per share. Paycom Software's revenue was up 10.5% compared to the same quarter last year. On average, equities analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 25th. Paycom Software's dividend payout ratio (DPR) is currently 20.30%.

About Paycom Software

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.