Janney Montgomery Scott LLC Raises Holdings in Paycom Software, Inc. (NYSE:PAYC)

Janney Montgomery Scott LLC boosted its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 13.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,316 shares of the software maker's stock after purchasing an additional 1,690 shares during the period. Janney Montgomery Scott LLC's holdings in Paycom Software were worth $3,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYC. FMR LLC lifted its position in shares of Paycom Software by 137.8% during the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock worth $491,201,000 after purchasing an additional 1,388,533 shares during the last quarter. Sylebra Capital LLC lifted its holdings in Paycom Software by 63.8% during the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock valued at $658,996,000 after buying an additional 1,252,617 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Paycom Software by 1,153.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock valued at $82,375,000 after buying an additional 369,825 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Paycom Software in the 4th quarter valued at about $63,923,000. Finally, Zurich Insurance Group Ltd FI bought a new position in Paycom Software in the 4th quarter worth about $60,882,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the completion of the sale, the insider now owns 27,233 shares of the company's stock, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Chad R. Richison sold 120,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were 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 in the company, valued at approximately $805,381,276.48. The trade was a 3.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,016 shares of company stock worth $42,736,608. 10.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. KeyCorp lifted their target price on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Wall Street Zen lowered Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, Barclays lifted their price objective on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $226.90.

Paycom Software Stock Performance

PAYC traded up $1.57 during trading on Friday, hitting $227.03. The stock had a trading volume of 590,047 shares, compared to its average volume of 663,158. The stock has a 50 day simple moving average of $244.08 and a two-hundred day simple moving average of $222.79. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $267.76. The company has a market capitalization of $13.13 billion, a PE ratio of 32.39, a PEG ratio of 2.50 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data 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 return on equity of 25.53% and a net margin of 20.60%. The firm had revenue of $530.50 million during the quarter, compared to analysts' expectations of $522.92 million. During the same quarter last year, the firm earned $2.59 EPS. The business's quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio is presently 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.