LPL Financial LLC Has $15.19 Million Holdings in Paycom Software, Inc. (NYSE:PAYC)

LPL Financial LLC increased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 30.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 69,509 shares of the software maker's stock after purchasing an additional 16,383 shares during the period. LPL Financial LLC owned approximately 0.12% of Paycom Software worth $15,186,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PAYC. Glass Jacobson Investment Advisors llc increased its stake in Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after acquiring an additional 112 shares during the period. von Borstel & Associates Inc. bought a new position in Paycom Software during the first quarter valued at about $27,000. Golden State Wealth Management LLC increased its stake in Paycom Software by 112.3% during the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock valued at $30,000 after acquiring an additional 73 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after acquiring an additional 87 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in Paycom Software during the first quarter valued at about $35,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Insiders Place Their Bets

In other Paycom Software news, COO Randall Peck sold 890 shares of the stock in a transaction dated 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 represents a 1.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $374,940.00. Following the transaction, the insider 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 52,016 shares of company stock worth $13,514,208. Corporate insiders own 10.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday. KeyCorp upped their price objective on Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday. Piper Sandler upped their price objective on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Stifel Nicolaus upped their price objective on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $234.80.

Paycom Software Stock Down 1.8%

NYSE:PAYC traded down $4.09 during trading hours on Friday, hitting $229.29. 672,064 shares of the stock were exchanged, compared to its average volume of 608,893. The company's 50 day moving average is $236.39 and its two-hundred day moving average is $227.01. Paycom Software, Inc. has a twelve month low of $152.46 and a twelve month high of $267.76. The company has a market capitalization of $13.26 billion, a P/E ratio of 31.03, a price-to-earnings-growth ratio of 2.57 and a beta of 0.81.

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

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 25th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 25th. Paycom Software's dividend payout ratio is 21.40%.

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.