Paycom Software, Inc. $PAYC Shares Acquired 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 raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,671 shares of the software maker's stock after acquiring an additional 3,675 shares during the period. Kestra Advisory Services LLC's holdings in Paycom Software were worth $3,642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. von Borstel & Associates Inc. acquired a new stake in Paycom Software during the 1st quarter valued at approximately $27,000. SouthState Corp acquired a new stake in Paycom Software during the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC lifted its stake 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 valued at $30,000 after acquiring an additional 73 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in 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 acquiring an additional 87 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in Paycom Software during the 1st quarter valued at approximately $35,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Randall Peck sold 890 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the sale, the chief operating officer 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 23,200 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 3,224,049 shares of the company's stock, valued at approximately $855,017,794.80. The trade was a 0.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,590 shares of company stock valued at $6,761,837. 10.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on PAYC. Cantor Fitzgerald began coverage on shares of Paycom Software in a research note on Thursday, August 14th. They set a "neutral" rating and a $230.00 price objective for the company. KeyCorp lifted their target price on shares of Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Barclays lifted their target price on shares of Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, Stifel Nicolaus lifted their target price on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Paycom Software has a consensus rating of "Hold" and a consensus target price of $234.36.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $227.77 on Thursday. The firm has a market cap of $13.18 billion, a PE ratio of 30.82, a PEG ratio of 2.47 and a beta of 0.81. The firm has a fifty day moving average of $228.70 and a 200 day moving average of $228.57. Paycom Software, Inc. has a one year low of $153.08 and a one year high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping the consensus estimate of $1.78 by $0.28. The company had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The firm's revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 EPS. On average, equities analysts predict that Paycom Software, Inc. will post 7.15 EPS 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. Investors of record on Monday, August 25th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 25th. Paycom Software's payout ratio is presently 20.30%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.