Reinhart Partners LLC. Increases Stake in Paycom Software, Inc. (NYSE:PAYC)

Reinhart Partners LLC. increased its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 17.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,899 shares of the software maker's stock after buying an additional 10,285 shares during the period. Reinhart Partners LLC. owned 0.12% of Paycom Software worth $15,271,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Private Trust Co. NA increased its stake in Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock valued at $118,000 after purchasing an additional 49 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Paycom Software by 1.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock valued at $602,000 after purchasing an additional 51 shares in the last quarter. Salvus Wealth Management LLC increased its stake in Paycom Software by 4.9% in the first quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker's stock valued at $270,000 after purchasing an additional 58 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Paycom Software by 1.1% in the fourth quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker's stock valued at $1,128,000 after purchasing an additional 60 shares in the last quarter. Finally, Fiduciary Trust Co increased its stake in Paycom Software by 1.6% in the fourth quarter. Fiduciary Trust Co now owns 4,495 shares of the software maker's stock valued at $921,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Insider Activity

In related news, COO Randall Peck sold 890 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the sale, the chief operating officer now owns 49,394 shares of the company's stock, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the sale, the insider now directly owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 173,516 shares of company stock valued at $42,964,698 over the last quarter. Company insiders own 10.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PAYC shares. Wall Street Zen downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Piper Sandler lifted their price objective 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. BMO Capital Markets lifted their price objective on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Stifel Nicolaus lifted their price objective 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. Finally, Barclays lifted their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $226.90.

Paycom Software Stock Down 1.7%

Paycom Software stock traded down $4.39 during midday trading on Tuesday, hitting $254.06. 501,538 shares of the stock were exchanged, compared to its average volume of 676,619. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $267.76. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81. The business's 50-day moving average price is $236.37 and its 200-day moving average price is $222.37.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The company had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same quarter in the previous year, the firm posted $2.59 earnings per share. The company's quarterly revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict 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. Stockholders of record on Tuesday, May 27th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is currently 21.40%.

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.