Versor Investments LP Acquires 5,838 Shares of Paycom Software, Inc. $PAYC

Key Points

• Versor Investments LP increased its ownership of Paycom Software shares by 278.5% in the recent quarter, holding a total of 7,934 shares valued at approximately $1.73 million.
• Insiders sold a total of 25,590 shares in the last quarter, with CEO Chad R. Richison selling 23,200 shares valued at over $6 million.
• Paycom Software has projected a 7.15 EPS for the current year, with a stock consensus rating of "Hold" and a price target of approximately $234.36.

Versor Investments LP lifted its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 278.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,934 shares of the software maker's stock after acquiring an additional 5,838 shares during the quarter. Versor Investments LP's holdings in Paycom Software were worth $1,733,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Commerce Bank grew its stake in Paycom Software by 2.2% during the 1st quarter. Commerce Bank now owns 2,351 shares of the software maker's stock valued at $514,000 after acquiring an additional 50 shares in the last quarter. Allworth Financial LP lifted its position in Paycom Software by 12.9% in the 1st quarter. Allworth Financial LP now owns 464 shares of the software maker's stock worth $105,000 after buying an additional 53 shares in the last quarter. US Bancorp DE boosted its stake in shares of Paycom Software by 0.5% during the 1st quarter. US Bancorp DE now owns 10,421 shares of the software maker's stock valued at $2,277,000 after buying an additional 57 shares during the period. Salvus Wealth Management LLC grew its holdings in shares of Paycom Software by 4.9% during the 1st quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker's stock valued at $270,000 after acquiring an additional 58 shares in the last quarter. Finally, Burns Matteson Capital Management LLC raised its holdings in shares of Paycom Software by 2.5% during the first quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker's stock worth $513,000 after acquiring an additional 58 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 23,200 shares of Paycom Software stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the transaction, the chief executive officer directly owned 3,224,049 shares of the company's stock, valued at $855,017,794.80. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Randall Peck sold 890 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the transaction, the chief operating officer directly owned 49,394 shares of the company's stock, valued at $13,000,994.74. This trade represents a 1.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,590 shares of company stock worth $6,761,837 in the last ninety days. Company insiders own 10.90% of the company's stock.

Paycom Software Stock Down 0.7%

NYSE:PAYC traded down $1.5240 on Thursday, reaching $225.4260. The stock had a trading volume of 514,825 shares, compared to its average volume of 628,264. The company has a market capitalization of $13.05 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 2.49 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 stock has a fifty day moving average price of $230.15 and a 200-day moving average price of $227.72.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.28. The company had revenue of $483.60 million during the quarter, compared to analysts' expectations of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. Paycom Software's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 earnings per share. Sell-side analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be paid 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 dividend yield of 0.7%. Paycom Software's dividend payout ratio is 20.30%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PAYC. Piper Sandler boosted their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Stifel Nicolaus raised their target price on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Barclays upped their price target on Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. KeyCorp raised their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets upped their target price on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $234.36.

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.