Penserra Capital Management LLC Grows Holdings in Paycom Software, Inc. (NYSE:PAYC)

Penserra Capital Management LLC raised its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 1,087.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,461 shares of the software maker's stock after acquiring an additional 1,338 shares during the period. Penserra Capital Management LLC's holdings in Paycom Software were worth $319,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Paycom Software by 746.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after purchasing an additional 112 shares in the last quarter. von Borstel & Associates Inc. bought a new position in Paycom Software during the first quarter worth about $27,000. Murphy & Mullick Capital Management Corp bought a new position in Paycom Software during the fourth quarter worth about $30,000. Golden State Wealth Management LLC raised its stake in shares of Paycom Software by 112.3% in the first 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 last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Paycom Software by 135.9% in the first 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 last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Buying and Selling

In other news, insider Bradley Scott Smith sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $249.96, for a total transaction of $374,940.00. Following the sale, the insider owned 27,233 shares of the company's stock, valued at $6,807,160.68. This trade represents a 5.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Randall Peck sold 890 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 49,394 shares in the company, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 172,016 shares of company stock worth $42,736,608 in the last three months. 10.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on PAYC. BMO Capital Markets lifted their target price 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. KeyCorp upped their price target on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Barclays increased their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Finally, Piper Sandler raised their price target on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research note 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 stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $226.90.

Paycom Software Price Performance

Shares of NYSE PAYC traded up $0.03 during mid-day trading on Tuesday, reaching $222.03. 391,912 shares of the company's stock traded hands, compared to its average volume of 658,821. The business has a 50-day simple moving average of $245.69 and a 200 day simple moving average of $223.72. Paycom Software, Inc. has a 1-year low of $148.22 and a 1-year high of $267.76. The stock has a market cap of $12.84 billion, a P/E ratio of 31.67, a PEG ratio of 2.43 and a beta of 0.77.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, topping the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $2.59 earnings per share. Equities research 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. Investors of record on Tuesday, May 27th were paid a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.68%. Paycom Software's payout ratio is 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.