Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP boosted its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 575.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 113,500 shares of the software maker's stock after purchasing an additional 96,697 shares during the period. Wellington Management Group LLP owned about 0.20% of Paycom Software worth $23,264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAYC. Glass Jacobson Investment Advisors llc grew 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 valued at $26,000 after purchasing an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Paycom Software in the 4th quarter valued at approximately $30,000. Putney Financial Group LLC acquired a new position in shares of Paycom Software in the fourth quarter worth $39,000. IFP Advisors Inc raised its stake in shares of Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock valued at $43,000 after acquiring an additional 178 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new stake in shares of Paycom Software in the fourth quarter valued at $61,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 120,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the sale, the chief executive officer now owns 3,307,249 shares of the company's stock, valued at approximately $805,381,276.48. This represents a 3.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Randall Peck sold 890 shares of the firm's stock in a transaction 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 now directly owns 49,394 shares of the company's stock, 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. Over the last 90 days, insiders have sold 150,316 shares of company stock valued at $36,812,058. Insiders own 10.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PAYC. Piper Sandler upped their price target on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Barclays boosted 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. BMO Capital Markets lifted their price target on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a research report on Thursday, May 8th. Finally, Stifel Nicolaus lifted their target price on shares of 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $226.90.

Paycom Software Stock Up 0.6%

PAYC stock traded up $1.65 on Wednesday, reaching $265.45. 663,227 shares of the company's stock were exchanged, compared to its average volume of 682,279. The stock has a fifty day moving average of $233.78 and a 200-day moving average of $221.54. The firm has a market cap of $15.36 billion, a PE ratio of 29.83, a P/E/G ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $265.61.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The business had revenue of $530.50 million for the quarter, compared to analysts' expectations of $522.92 million. During the same period in the prior year, the company posted $2.59 EPS. The business's revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a yield of 0.57%. Paycom Software's payout ratio is 21.40%.

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.