9,724 Shares in Paycom Software, Inc. (NYSE:PAYC) Bought by Koss Olinger Consulting LLC

Key Points

• Koss Olinger Consulting LLC has acquired 9,724 shares of Paycom Software, valued at approximately $2,125,000, as part of its recent investment strategy.
• Wall Street analysts have raised the target price for Paycom Software, with JPMorgan increasing it to $235 and KeyCorp to $290, while the consensus rating remains a "Hold" with an average target of $234.80.
• The firm announced a quarterly dividend of $0.375 per share, indicating a 0.7% dividend yield, with the ex-dividend date set for August 25th.

Koss Olinger Consulting LLC acquired a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,724 shares of the software maker's stock, valued at approximately $2,125,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PAYC. von Borstel & Associates Inc. purchased a new stake in Paycom Software during the 1st quarter worth about $27,000. Glass Jacobson Investment Advisors llc lifted its holdings in Paycom Software by 746.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after purchasing an additional 112 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Paycom Software by 112.3% during the 1st 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 in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Paycom Software by 135.9% during the 1st 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 in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in Paycom Software during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Price Performance

NYSE PAYC traded down $6.38 during trading on Tuesday, reaching $214.66. The company's stock had a trading volume of 769,665 shares, compared to its average volume of 627,853. The stock has a market capitalization of $12.42 billion, a PE ratio of 29.05, a P/E/G ratio of 2.60 and a beta of 0.81. The firm has a fifty day moving average of $235.62 and a 200 day moving average of $227.39. Paycom Software, Inc. has a one year low of $152.46 and a one year high of $267.76.

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

Paycom Software Dividend Announcement

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

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the completion of the sale, the insider directly owned 27,233 shares in the company, valued at $6,807,160.68. This represents a 5.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $234,256.90. Following the completion of the sale, the chief operating officer owned 49,394 shares of the company's stock, 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 25,590 shares of company stock worth $6,761,837 in the last ninety days. 10.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler increased their price objective on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Barclays increased their price objective on Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Stifel Nicolaus increased their price objective on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. increased their price objective on Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, KeyCorp upped their target price on Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Paycom Software presently has an average rating of "Hold" and a consensus target price of $234.80.

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.