OMERS ADMINISTRATION Corp Increases Stock Position in Paycom Software, Inc. $PAYC

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Paycom Software, Inc. by 15.5%, now holding 9,860 shares valued at approximately $2.15 million.
• Insider sales occurred recently, including CEO Chad R. Richison, who sold 23,200 shares for about $6.15 million, reducing his ownership by 0.71%.
• Paycom Software announced a quarterly dividend of $0.375 per share, with a dividend yield of 0.7%, set for payment on September 8th.

OMERS ADMINISTRATION Corp raised its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 15.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,860 shares of the software maker's stock after buying an additional 1,325 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Paycom Software were worth $2,154,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. SouthState Corp acquired a new position in Paycom Software in the first quarter valued at about $27,000. von Borstel & Associates Inc. acquired a new position in Paycom Software in the first quarter valued at about $27,000. Golden State Wealth Management LLC lifted its position in Paycom Software by 112.3% in the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock valued at $30,000 after buying an additional 73 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Paycom Software by 135.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after buying an additional 87 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in Paycom Software in the first quarter valued at about $35,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Paycom Software Stock Up 0.4%

Paycom Software stock traded up $0.92 during mid-day trading on Wednesday, hitting $220.92. The company had a trading volume of 785,397 shares, compared to its average volume of 628,617. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 29.89, a PEG 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 has a fifty day moving average of $228.04 and a 200 day moving average of $229.20.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The firm's revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 earnings per share. Equities analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of 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 increased their price target on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Cantor Fitzgerald assumed coverage on shares of Paycom Software in a research report on Thursday, August 14th. They set a "neutral" rating and a $230.00 price target on the stock. Barclays increased their price target on shares of Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, KeyCorp increased their price target on shares of Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $234.36.

Insider Activity

In other news, insider Bradley Scott Smith sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total transaction of $374,940.00. Following the transaction, the insider directly owned 27,233 shares in the company, valued at approximately $6,807,160.68. This trade represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 10.90% of the company's stock.

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.