Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC increased its holdings in Paycom Software, Inc. by 107.5% during the 1st quarter, bringing their total to 9,185 shares valued at $2,007,000.
• Paycom Software reported earnings of $2.06 EPS for the quarter, exceeding estimates by $0.28, and achieved revenues of $483.60 million, surpassing expectations.
• The company announced a quarterly dividend of $0.375 per share, with a yield of 0.7%, to be paid to investors on September 8th.

New Age Alpha Advisors LLC grew its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 107.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,185 shares of the software maker's stock after buying an additional 4,759 shares during the quarter. New Age Alpha Advisors LLC's holdings in Paycom Software were worth $2,007,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PAYC. von Borstel & Associates Inc. acquired a new position in Paycom Software during the 1st quarter worth $27,000. Glass Jacobson Investment Advisors llc grew its stake in 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 purchasing an additional 112 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Paycom Software by 112.3% during 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 in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Paycom Software by 135.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after buying an additional 87 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in Paycom Software during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Paycom Software Stock Performance

Shares of PAYC opened at $223.42 on Thursday. The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 2.46 and a beta of 0.81. The stock's fifty day moving average is $237.44 and its 200-day moving average is $226.70. Paycom Software, Inc. has a one year low of $152.46 and a one year high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last released its 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 firm had revenue of $483.60 million for the quarter, compared to analysts' expectations of $472.00 million. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. Paycom Software's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company earned $1.62 EPS. 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, September 8th. Investors of record on Monday, August 25th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software's dividend payout ratio (DPR) is currently 21.40%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. BMO Capital Markets upped their price target on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Piper Sandler increased their target price on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Barclays raised their price target on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. KeyCorp boosted their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Paycom Software currently has an average rating of "Hold" and a consensus price target of $226.90.

Insider Activity at Paycom Software

In related news, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the transaction, the chief operating officer directly owned 49,394 shares of the company's stock, valued at $13,000,994.74. The trade was a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad R. Richison sold 26,426 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the completion of the sale, the chief executive officer directly owned 3,277,249 shares of the company's stock, valued at $837,402,664.48. The trade was a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,016 shares of company stock valued at $13,514,208 over the last 90 days. 10.90% of the stock is currently owned by corporate insiders.

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.

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