Graypoint LLC Makes New $265,000 Investment in Paycom Software, Inc. (NYSE:PAYC)

Graypoint LLC bought a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 1,214 shares of the software maker's stock, valued at approximately $265,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC lifted its position 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 worth $587,000 after purchasing an additional 976 shares during the period. GAMMA Investing LLC increased its stake in shares of Paycom Software by 54.5% in the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker's stock worth $198,000 after acquiring an additional 319 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Paycom Software by 43.0% in the 4th quarter. American Century Companies Inc. now owns 52,755 shares of the software maker's stock worth $10,813,000 after acquiring an additional 15,852 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Paycom Software by 11.9% in the 1st quarter. Rhumbline Advisers now owns 102,936 shares of the software maker's stock worth $22,489,000 after acquiring an additional 10,908 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Paycom Software by 15.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker's stock worth $220,000 after acquiring an additional 136 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the insider directly 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 document filed with the SEC, which is available through this hyperlink. Also, COO Randall Peck sold 890 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the transaction, the chief operating officer owned 49,394 shares in the company, valued at approximately $13,000,994.74. This trade represents a 1.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,016 shares of company stock valued at $42,736,608 in the last three months. 10.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PAYC shares. Stifel Nicolaus increased their price target on shares of Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. KeyCorp increased their price target on shares of Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. BMO Capital Markets increased their price target on shares of Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. Finally, Barclays increased their price target on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $226.90.

Paycom Software Stock Up 2.3%

NYSE:PAYC traded up $5.09 during mid-day trading on Friday, reaching $229.81. The company's stock had a trading volume of 481,404 shares, compared to its average volume of 652,155. Paycom Software, Inc. has a 1 year low of $152.46 and a 1 year high of $267.76. The stock has a fifty day moving average of $244.39 and a 200-day moving average of $224.42. The firm has a market capitalization of $13.29 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 2.53 and a beta of 0.77.

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

Paycom Software Announces Dividend

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

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.