QRG Capital Management Inc. Acquires Shares of 2,417 Paycom Software, Inc. (NYSE:PAYC)

QRG Capital Management Inc. acquired a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,417 shares of the software maker's stock, valued at approximately $528,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sylebra Capital LLC increased its holdings in Paycom Software by 63.8% during the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock valued at $658,996,000 after buying an additional 1,252,617 shares during the last quarter. FMR LLC grew its position in shares of Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock valued at $491,201,000 after acquiring an additional 1,388,533 shares during the period. Geode Capital Management LLC grew its position in shares of Paycom Software by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker's stock valued at $310,245,000 after acquiring an additional 89,848 shares during the period. Northern Trust Corp increased its stake in shares of Paycom Software by 10.9% in the 4th quarter. Northern Trust Corp now owns 724,016 shares of the software maker's stock worth $148,402,000 after purchasing an additional 70,897 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Paycom Software by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock worth $102,090,000 after purchasing an additional 11,611 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Insider Activity

In other news, CEO Chad R. Richison sold 26,426 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the sale, the chief executive officer now directly owns 3,277,249 shares of the company's stock, valued at $837,402,664.48. This represents a 0.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $374,940.00. Following the completion of the transaction, the insider now directly owns 27,233 shares of the company's stock, valued at approximately $6,807,160.68. This trade 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 172,016 shares of company stock worth $42,736,608 over the last 90 days. Corporate insiders own 10.90% of the company's stock.

Paycom Software Stock Up 1.4%

PAYC stock traded up $3.19 during midday trading on Thursday, hitting $225.98. The company's stock had a trading volume of 853,693 shares, compared to its average volume of 664,466. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $267.76. The company has a 50 day moving average of $243.69 and a two-hundred day moving average of $223.03. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 2.45 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last released its earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. The firm had revenue of $530.50 million for 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.59 earnings per share. On average, analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is presently 21.40%.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several recent research reports. BMO Capital Markets boosted 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. KeyCorp lifted their price objective on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Barclays increased their target price on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Stifel Nicolaus raised their target price on shares of Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen lowered shares of Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $226.90.

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.