Nuveen LLC Takes $26.18 Million Position in Paycom Software, Inc. $PAYC

Nuveen LLC bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 119,813 shares of the software maker's stock, valued at approximately $26,177,000. Nuveen LLC owned 0.21% of Paycom Software as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PAYC. von Borstel & Associates Inc. purchased a new stake in Paycom Software during the first quarter worth approximately $27,000. Golden State Wealth Management LLC grew 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 worth $30,000 after buying an additional 73 shares during the period. MassMutual Private Wealth & Trust FSB grew 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 worth $33,000 after buying an additional 87 shares during the period. Opal Wealth Advisors LLC purchased a new stake in Paycom Software during the first quarter worth approximately $35,000. Finally, Putney Financial Group LLC purchased a new stake in Paycom Software during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the sale, the insider owned 27,233 shares in the company, valued at $6,807,160.68. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,590 shares of company stock worth $6,761,837 over the last quarter. 10.90% of the stock is owned by corporate insiders.

Paycom Software Price Performance

PAYC traded up $5.69 on Friday, reaching $231.01. The company's stock had a trading volume of 86,148 shares, compared to its average volume of 625,258. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 31.26, a price-to-earnings-growth ratio of 2.48 and a beta of 0.81. Paycom Software, Inc. has a 1 year low of $153.08 and a 1 year high of $267.76. The business's 50 day moving average is $229.64 and its 200 day moving average is $227.86.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.28. The firm had revenue of $483.60 million during 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%.Paycom Software's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.62 earnings per share. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. Paycom Software's dividend payout ratio is currently 20.30%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Stifel Nicolaus upped their target price on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Piper Sandler upped their target price on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. KeyCorp upped their target price on Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets upped their target price on Paycom Software from $244.00 to $258.00 and gave the stock a "market perform" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $234.36.

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.