Marks Group Wealth Management Inc Sells 2,319 Shares of Paycom Software, Inc. (NYSE:PAYC)

Marks Group Wealth Management Inc decreased its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,837 shares of the software maker's stock after selling 2,319 shares during the quarter. Marks Group Wealth Management Inc owned about 0.06% of Paycom Software worth $7,174,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAYC. von Borstel & Associates Inc. bought a new position in Paycom Software during the first quarter worth $27,000. Glass Jacobson Investment Advisors llc grew its holdings 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 acquiring an additional 112 shares during the period. Golden State Wealth Management LLC raised its position in shares of Paycom Software by 112.3% in the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after acquiring an additional 73 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Paycom Software in the 4th quarter valued at about $30,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Paycom Software by 135.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Paycom Software Stock Down 4.0%

PAYC traded down $9.21 during trading on Friday, hitting $220.15. 624,486 shares of the company traded hands, compared to its average volume of 659,698. Paycom Software, Inc. has a one year low of $148.22 and a one year high of $267.76. The stock's fifty day moving average is $245.69 and its 200 day moving average is $223.62. The firm has a market cap of $12.74 billion, a P/E ratio of 31.41, a price-to-earnings-growth ratio of 2.43 and a beta of 0.77.

Paycom Software (NYSE:PAYC - Get Free Report) last released its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. The firm had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The company's revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.59 EPS. On average, equities research analysts forecast 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 was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were paid a $0.375 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.68%. Paycom Software's payout ratio is presently 21.40%.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 23,200 shares of Paycom Software stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total value of $6,152,640.00. Following the completion of the transaction, the chief executive officer owned 3,224,049 shares in the company, valued at $855,017,794.80. This trade represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the chief operating officer directly owned 49,394 shares in the company, valued at approximately $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 a total of 172,016 shares of company stock worth $42,736,608 over the last ninety days. 10.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PAYC shares. Piper Sandler lifted their target price on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. KeyCorp boosted their target price 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. BMO Capital Markets raised their price target on shares of Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Finally, Barclays increased their price target on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.