GAMMA Investing LLC Grows Stock Position in Paycom Software, Inc. (NYSE:PAYC)

GAMMA Investing LLC boosted its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 33,661.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 197,506 shares of the software maker's stock after purchasing an additional 196,921 shares during the period. GAMMA Investing LLC owned approximately 0.34% of Paycom Software worth $43,151,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PAYC. Sylebra Capital LLC increased its holdings in shares of Paycom Software by 63.8% in the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock valued at $658,996,000 after purchasing an additional 1,252,617 shares during the period. FMR LLC boosted its position in Paycom Software by 137.8% in the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock valued at $491,201,000 after buying an additional 1,388,533 shares during the last quarter. Geode Capital Management LLC increased its holdings in Paycom Software by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker's stock worth $310,245,000 after buying an additional 89,848 shares during the period. Northern Trust Corp increased its holdings in Paycom Software by 10.9% in the 4th quarter. Northern Trust Corp now owns 724,016 shares of the software maker's stock worth $148,402,000 after buying an additional 70,897 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Paycom Software by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock worth $102,090,000 after buying an additional 11,611 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC traded up $2.27 during midday trading on Friday, reaching $266.20. 150,676 shares of the company's stock traded hands, compared to its average volume of 679,077. The company has a market cap of $15.40 billion, a P/E ratio of 29.91, a PEG ratio of 2.40 and a beta of 0.80. The company has a fifty day simple moving average of $234.68 and a two-hundred day simple moving average of $221.85. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $522.92 million. During the same quarter last year, the business earned $2.59 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

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 issued a dividend of $0.375 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.56%. Paycom Software's payout ratio is currently 21.40%.

Insider Activity

In other news, COO Randall Peck sold 890 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the sale, the chief operating officer now directly owns 49,394 shares in the company, valued at $13,000,994.74. This represents a 1.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley Scott Smith sold 3,000 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the transaction, the insider now directly owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,316 shares of company stock worth $36,812,058 over the last quarter. 10.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PAYC shares. Wall Street Zen cut shares of Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Piper Sandler increased their price target 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 boosted 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. BMO Capital Markets raised their target price on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus lifted their price target on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $226.90.

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.