Plan Group Financial LLC Takes $289,000 Position in Paycom Software, Inc. (NYSE:PAYC)

Key Points

• Plan Group Financial LLC invested $289,000 in Paycom Software, acquiring 1,322 shares during the first quarter according to the latest SEC filing.
• Paycom Software reported a Q1 earnings per share of $2.80, surpassing estimates of $2.62, with a total revenue of $530.50 million, a 6.1% increase from the previous year.
• Paycom announced a quarterly dividend of $0.375 per share, translating to an annualized yield of 0.7% and a payout ratio of 21.40%.

Plan Group Financial LLC bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,322 shares of the software maker's stock, valued at approximately $289,000.

Several other large investors have also recently added to or reduced their stakes in the business. von Borstel & Associates Inc. purchased a new stake in shares of Paycom Software in the 1st quarter valued at approximately $27,000. Glass Jacobson Investment Advisors llc increased its position in shares of Paycom Software by 746.7% in the 4th 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 during the last quarter. Golden State Wealth Management LLC increased its position in shares of Paycom Software by 112.3% in the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after purchasing an additional 87 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Paycom Software in the 1st quarter valued at approximately $35,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the firm's stock in a transaction 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 completion of the sale, the insider owned 27,233 shares in the company, valued at approximately $6,807,160.68. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chad R. Richison sold 23,200 shares of the firm'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 owned 3,224,049 shares of the company's stock, valued at $855,017,794.80. This trade represents a 0.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,016 shares of company stock worth $13,514,208. Company insiders own 10.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PAYC shares. KeyCorp increased their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday. Stifel Nicolaus upped 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. BMO Capital Markets upped their target price on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a report on Thursday. Piper Sandler upped their target price on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Barclays upped 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. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $234.80.

Paycom Software Stock Up 4.4%

NYSE:PAYC traded up $9.83 during trading hours on Thursday, reaching $233.09. 1,484,156 shares of the company's stock were exchanged, compared to its average volume of 555,606. The firm has a market capitalization of $13.48 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 2.46 and a beta of 0.81. The company has a 50-day moving average of $236.99 and a 200 day moving average of $226.87. Paycom Software, Inc. has a 1-year low of $152.46 and a 1-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 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.28. The firm had revenue of $483.60 million during the quarter, compared to analysts' expectations of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 26.26%. Paycom Software's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. Research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, August 25th. Paycom Software's dividend payout ratio (DPR) 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.