QRG Capital Management Inc. Acquires New Position in Paycom Software, Inc. (NYSE:PAYC)

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PAYC. Glass Jacobson Investment Advisors llc boosted its stake 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 buying an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Paycom Software in the fourth quarter valued at $30,000. MassMutual Private Wealth & Trust FSB lifted its holdings in 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 period. Opal Wealth Advisors LLC purchased a new stake in shares of Paycom Software during the 1st quarter worth $35,000. Finally, Putney Financial Group LLC acquired a new position in shares of Paycom Software during the 4th quarter worth $39,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. KeyCorp increased their price target on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen cut shares of Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. 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. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Finally, Barclays upped their price target on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Paycom Software presently has a consensus rating of "Hold" and a consensus target price of $226.90.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $231.84 on Monday. The firm's 50-day moving average is $242.95 and its two-hundred day moving average is $222.98. The company has a market capitalization of $13.41 billion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 2.56 and a beta of 0.81. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $267.76.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. The firm had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. Paycom Software's revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.59 EPS. On average, analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were given 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 0.65%. Paycom Software's dividend payout ratio is currently 21.40%.

Insider Activity

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software 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 completion of the sale, the insider now directly owns 27,233 shares of the company's stock, valued at approximately $6,807,160.68. The trade was 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, 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 transaction, the chief operating officer now owns 49,394 shares of the company's stock, valued at $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,016 shares of company stock worth $42,736,608 over the last three months. 10.90% of the stock is currently owned by corporate insiders.

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.

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