Janney Montgomery Scott LLC raised its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 13.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,316 shares of the software maker's stock after purchasing an additional 1,690 shares during the quarter. Janney Montgomery Scott LLC's holdings in Paycom Software were worth $3,128,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Trust Co. NA lifted its position in shares of Paycom Software by 9.3% during the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock worth $118,000 after purchasing an additional 49 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Paycom Software by 1.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock worth $602,000 after purchasing an additional 51 shares during the last quarter. Salvus Wealth Management LLC lifted its position in shares of Paycom Software by 4.9% during the 1st quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker's stock worth $270,000 after purchasing an additional 58 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of Paycom Software by 1.1% during the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker's stock worth $1,128,000 after purchasing an additional 60 shares during the last quarter. Finally, Fourpath Capital Management LLC lifted its position in shares of Paycom Software by 1.9% during the 1st quarter. Fourpath Capital Management LLC now owns 3,798 shares of the software maker's stock worth $830,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.
Paycom Software Price Performance
PAYC opened at $235.30 on Wednesday. The business's 50-day moving average price is $243.24 and its two-hundred day moving average price is $222.95. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $267.76. The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 2.57 and a beta of 0.81.
Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. The company had revenue of $530.50 million during the quarter, compared to analysts' expectations of $522.92 million. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. Paycom Software's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.59 EPS. Sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.
Paycom Software Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were given a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. Paycom Software's payout ratio is 21.40%.
Wall Street Analyst Weigh In
Several equities analysts have commented on PAYC shares. Barclays upped their price target on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. 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 report on Thursday, May 8th. Piper Sandler upped their price target on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Wall Street Zen cut Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus upped their price target on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $226.90.
Read Our Latest Research Report on PAYC
Insider Activity
In related news, CEO Chad R. Richison sold 120,000 shares of the business's stock in a transaction on 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 of the company's stock, valued at $805,381,276.48. The trade was a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Randall Peck sold 890 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was 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 now directly owns 49,394 shares in the company, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,016 shares of company stock worth $42,736,608. Corporate insiders own 10.90% of the company's stock.
About Paycom Software
(
Free Report)
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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