Modera Wealth Management LLC Increases Holdings in Paycom Software, Inc. (NYSE:PAYC)

Key Points

• Modera Wealth Management LLC has increased its holdings in Paycom Software by 94.0% in the first quarter, now owning 6,570 shares valued at approximately $1.43 million.
• Paycom Software's stock has seen a recent decline of 1.7%, with a current market price of $231.57 and a P/E ratio of 33.03.
• Insider trades included significant sales, with one insider selling 1,500 shares for nearly $375,000, reflecting a decrease in their ownership position.

Modera Wealth Management LLC increased its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 94.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,570 shares of the software maker's stock after acquiring an additional 3,183 shares during the quarter. Modera Wealth Management LLC's holdings in Paycom Software were worth $1,435,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PAYC. Glass Jacobson Investment Advisors llc grew its stake in Paycom Software by 746.7% in the fourth 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 during the period. von Borstel & Associates Inc. purchased a new stake in shares of Paycom Software in the first quarter worth $27,000. Golden State Wealth Management LLC grew its stake in shares of Paycom Software by 112.3% in the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after acquiring an additional 73 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Paycom Software by 135.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after acquiring an additional 87 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of Paycom Software during the first quarter valued at $35,000. Hedge funds and other 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 business's 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 completion of the sale, the insider directly owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Randall Peck sold 890 shares of the business's 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 transaction, the chief operating officer owned 49,394 shares in the company, valued at $13,000,994.74. The trade was 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 over the last three months. 10.90% of the stock is owned by corporate insiders.

Paycom Software Stock Down 1.7%

PAYC opened at $231.57 on Friday. Paycom Software, Inc. has a 52 week low of $152.46 and a 52 week high of $267.76. The business has a fifty day simple moving average of $240.12 and a 200-day simple moving average of $226.16. The firm has a market cap of $13.40 billion, a P/E ratio of 33.03, a P/E/G ratio of 2.59 and a beta of 0.77.

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

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio is 21.40%.

Wall Street Analyst Weigh In

PAYC has been the topic of a number of research analyst reports. BMO Capital Markets upped their price target on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Piper Sandler raised their price target on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Barclays lifted their target price on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. KeyCorp upped their target price on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Stifel Nicolaus increased their price objective on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $226.90.

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.

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