Paycom Software, Inc. $PAYC Shares Bought by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC increased its stake in Paycom Software by 28.3% in the first quarter, now holding 16,671 shares valued at approximately $3.64 million.
• Insider transactions included COO Randall Peck selling 890 shares and CEO Chad R. Richison selling 23,200 shares on June 4th, resulting in minor decreases in their ownership positions.
• Paycom Software reported a quarterly EPS of $2.06, exceeding estimates, with revenue of $483.6 million, reflecting a 10.5% year-over-year increase.

Kestra Advisory Services LLC grew its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 28.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,671 shares of the software maker's stock after purchasing an additional 3,675 shares during the quarter. Kestra Advisory Services LLC's holdings in Paycom Software were worth $3,642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PAYC. Kingsview Wealth Management LLC lifted its position in Paycom Software by 8.4% during the first quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker's stock worth $323,000 after buying an additional 114 shares in the last quarter. SG Americas Securities LLC grew its stake in Paycom Software by 57.1% during the 1st quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker's stock worth $587,000 after purchasing an additional 976 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Paycom Software by 54.5% in the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker's stock valued at $198,000 after purchasing an additional 319 shares during the last quarter. Rhumbline Advisers raised its position in shares of Paycom Software by 11.9% during the 1st quarter. Rhumbline Advisers now owns 102,936 shares of the software maker's stock worth $22,489,000 after acquiring an additional 10,908 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Paycom Software by 15.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker's stock worth $220,000 after buying an additional 136 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 23,200 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the sale, the chief executive officer owned 3,224,049 shares in the company, valued at $855,017,794.80. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Bradley Scott Smith sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value of $374,940.00. Following the sale, the insider directly owned 27,233 shares in the company, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,590 shares of company stock valued at $6,761,837 over the last three months. 10.90% of the stock is owned by insiders.

Paycom Software Stock Performance

Shares of NYSE PAYC traded down $7.24 during midday trading on Tuesday, reaching $219.91. 927,995 shares of the company's stock were exchanged, compared to its average volume of 683,704. The business's fifty day moving average price is $228.04 and its two-hundred day moving average price is $229.20. Paycom Software, Inc. has a 52-week low of $153.08 and a 52-week high of $267.76. The stock has a market capitalization of $12.73 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.48 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The business had revenue of $483.60 million during the quarter, compared to the consensus estimate of $472.00 million. During the same quarter last year, the company earned $1.62 earnings per share. The business's quarterly revenue was up 10.5% compared to the same quarter last year. Analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be given 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 dividend yield of 0.7%. Paycom Software's dividend payout ratio (DPR) is presently 20.30%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Cantor Fitzgerald started coverage on shares of Paycom Software in a research report on Thursday, August 14th. They set a "neutral" rating and a $230.00 price objective on the stock. Piper Sandler lifted their price target on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Stifel Nicolaus lifted their target price on shares of Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Finally, KeyCorp raised their price objective on Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $234.36.

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.