Graham Capital Management L.P. Acquires 2,029 Shares of Paycom Software, Inc. $PAYC

Key Points

• Graham Capital Management L.P. increased its stake in Paycom Software by 49.6%, acquiring an additional 2,029 shares, bringing its total holdings to 6,122 shares valued at approximately $1.34 million.
• Institutional investors now own 87.77% of Paycom's stock, indicating strong investor confidence, while corporate insiders control 10.90% of the company's shares.
• Paycom Software recently announced a quarterly dividend of $0.375, reflecting a 0.7% dividend yield, and will be paid on September 8th to stockholders of record.

Graham Capital Management L.P. lifted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 49.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,122 shares of the software maker's stock after purchasing an additional 2,029 shares during the period. Graham Capital Management L.P.'s holdings in Paycom Software were worth $1,338,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PAYC. von Borstel & Associates Inc. bought a new position in shares of Paycom Software during the 1st quarter valued at $27,000. SouthState Corp bought a new position in shares of Paycom Software during the 1st quarter valued at $27,000. Golden State Wealth Management LLC grew its holdings in shares of Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Paycom Software by 135.9% during the 1st 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 last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in Paycom Software during the 1st quarter valued at $35,000. Institutional investors own 87.77% of the company's stock.

Insider Activity at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the firm's stock in a transaction dated 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 directly owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 10.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PAYC. Piper Sandler increased their price target on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. BMO Capital Markets increased their price target on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a research report on Thursday, August 7th. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. KeyCorp increased their price target on shares of Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus increased their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Paycom Software has a consensus rating of "Hold" and a consensus price target of $234.36.

Paycom Software Trading Down 3.2%

NYSE:PAYC opened at $219.91 on Wednesday. The company has a 50-day moving average price of $228.04 and a 200-day moving average price of $229.20. Paycom Software, Inc. has a 12 month low of $153.08 and a 12 month high of $267.76. The stock has a market cap of $12.73 billion, a price-to-earnings ratio of 29.76, a P/E/G ratio of 2.48 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping 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 firm had revenue of $483.60 million during the quarter, compared to analysts' expectations of $472.00 million. During the same period last year, the company posted $1.62 EPS. The company's quarterly revenue was up 10.5% compared to the same quarter last year. Equities analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend 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.

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