Mackenzie Financial Corp Has $1.67 Million Stake in Paycom Software, Inc. (NYSE:PAYC)

Mackenzie Financial Corp reduced its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 26.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,121 shares of the software maker's stock after selling 2,872 shares during the quarter. Mackenzie Financial Corp's holdings in Paycom Software were worth $1,665,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. North Star Asset Management Inc. lifted its stake in shares of Paycom Software by 2.5% in the 4th quarter. North Star Asset Management Inc. now owns 47,681 shares of the software maker's stock valued at $9,773,000 after acquiring an additional 1,174 shares during the last quarter. GTS Securities LLC increased its position in Paycom Software by 213.2% during the 4th quarter. GTS Securities LLC now owns 4,613 shares of the software maker's stock valued at $946,000 after buying an additional 3,140 shares in the last quarter. Sylebra Capital LLC increased its holdings in shares of Paycom Software by 63.8% during the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock valued at $658,996,000 after acquiring an additional 1,252,617 shares in the last quarter. City National Bank of Florida MSD bought a new position in shares of Paycom Software in the fourth quarter worth approximately $247,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Paycom Software in the 4th quarter worth $82,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler raised their price target on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. BMO Capital Markets upped their price objective on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. KeyCorp upped their price target on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Barclays upped their target price on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Finally, Wall Street Zen downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $226.90.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the sale, the insider now directly owns 28,733 shares in the company, valued at approximately $5,775,620.33. This trade represents a 9.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Randall Peck sold 890 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total value of $234,256.90. Following the sale, the chief operating officer now directly owns 49,394 shares of the company's stock, valued at $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 150,316 shares of company stock worth $36,812,058 in the last 90 days. 10.90% of the stock is owned by corporate insiders.

Paycom Software Price Performance

Shares of PAYC stock traded up $1.65 during trading hours on Wednesday, hitting $265.45. The stock had a trading volume of 663,227 shares, compared to its average volume of 682,279. The stock's 50 day moving average is $233.78 and its 200 day moving average is $221.54. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $265.61. The firm has a market capitalization of $15.36 billion, a PE ratio of 29.83, a PEG ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The firm had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. During the same period last year, the firm posted $2.59 EPS. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be paid a $0.375 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.57%. Paycom Software's dividend payout ratio (DPR) is presently 21.40%.

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.