Allianz Asset Management GmbH Grows Position in Paycom Software, Inc. (NYSE:PAYC)

Key Points

• Allianz Asset Management GmbH increased its stake in Paycom Software by 21.5%, owning 6,786 shares valued at approximately $1.48 million by the end of the first quarter.
• CEO Chad R. Richison sold 120,000 shares for about $29.22 million, reducing his stake by 3.5% to approximately 3.3 million shares valued at over $805 million.
• Paycom Software reported quarterly earnings of $2.80 per share, surpassing expectations and showing a 6.1% year-over-year revenue growth to $530.5 million.

Allianz Asset Management GmbH lifted its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 21.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,786 shares of the software maker's stock after acquiring an additional 1,201 shares during the period. Allianz Asset Management GmbH's holdings in Paycom Software were worth $1,483,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc boosted its holdings in shares of 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 acquiring an additional 112 shares during the period. von Borstel & Associates Inc. bought a new stake in shares of Paycom Software during the 1st quarter valued at about $27,000. Golden State Wealth Management LLC boosted its position in shares of Paycom Software by 112.3% during the 1st 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 last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 purchasing an additional 87 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of Paycom Software in the first quarter worth approximately $35,000. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Down 2.2%

Shares of PAYC traded down $5.01 during trading hours on Friday, hitting $226.53. The company had a trading volume of 580,497 shares, compared to its average volume of 463,397. The firm has a market cap of $13.10 billion, a P/E ratio of 32.32, a P/E/G ratio of 2.55 and a beta of 0.81. The stock's 50 day moving average price is $240.12 and its 200 day moving average price is $226.16. Paycom Software, Inc. has a 52-week low of $152.46 and a 52-week high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The firm had revenue of $530.50 million for the quarter, compared to the consensus estimate of $522.92 million. During the same quarter in the previous year, the business earned $2.59 earnings per share. The company's quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal 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 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 was Tuesday, May 27th. Paycom Software's payout ratio is currently 21.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PAYC shares. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. BMO Capital Markets increased their target price on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" 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 stock a "hold" rating in a report on Thursday, May 8th. KeyCorp raised their price objective on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Barclays upped their target price on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $226.90.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 120,000 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the transaction, the chief executive officer owned 3,307,249 shares in the company, valued at $805,381,276.48. The trade was a 3.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were 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 in the company, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,016 shares of company stock worth $42,736,608 in the last 90 days. Company insiders own 10.90% of the company's stock.

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.