Envestnet Asset Management Inc. Has $72.03 Million Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Envestnet Asset Management Inc. trimmed its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 329,682 shares of the software maker's stock after selling 10,605 shares during the period. Envestnet Asset Management Inc. owned approximately 0.57% of Paycom Software worth $72,029,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PAYC. von Borstel & Associates Inc. purchased a new position in Paycom Software during the 1st quarter worth $27,000. Glass Jacobson Investment Advisors llc grew its position in Paycom Software by 746.7% during the 4th 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 during the last quarter. Golden State Wealth Management LLC grew its position in Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after purchasing an additional 73 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Paycom Software during the 4th quarter worth $30,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after acquiring an additional 87 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

Shares of Paycom Software stock traded up $0.03 during trading hours on Tuesday, reaching $222.03. The company's stock had a trading volume of 391,912 shares, compared to its average volume of 658,821. The stock has a market cap of $12.84 billion, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 2.43 and a beta of 0.77. The company's 50 day simple moving average is $245.69 and its 200 day simple moving average is $223.72. Paycom Software, Inc. has a one year low of $148.22 and a one year high of $267.76.

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

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's payout ratio is presently 21.40%.

Insider Activity at Paycom Software

In related news, COO Randall Peck sold 890 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 49,394 shares of the company's stock, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 120,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the transaction, the chief executive officer directly owned 3,307,249 shares in the company, valued at $805,381,276.48. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,016 shares of company stock valued at $42,736,608. Corporate insiders own 10.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PAYC shares. Stifel Nicolaus raised their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Piper Sandler raised their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Barclays boosted their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Finally, KeyCorp increased their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Paycom Software presently has an average rating of "Hold" and a consensus target price of $226.90.

Paycom Software Company 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.