Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers increased its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 11.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,936 shares of the software maker's stock after buying an additional 10,908 shares during the quarter. Rhumbline Advisers owned about 0.18% of Paycom Software worth $22,489,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PAYC. GAMMA Investing LLC grew its position in Paycom Software by 33,661.7% in the 1st quarter. GAMMA Investing LLC now owns 197,506 shares of the software maker's stock valued at $43,151,000 after buying an additional 196,921 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Paycom Software by 466.0% in the 1st quarter. Versant Capital Management Inc now owns 266 shares of the software maker's stock valued at $58,000 after purchasing an additional 219 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Paycom Software by 135.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after purchasing an additional 87 shares during the period. Wellington Management Group LLP increased its position in Paycom Software by 575.5% during the 4th quarter. Wellington Management Group LLP now owns 113,500 shares of the software maker's stock worth $23,264,000 after purchasing an additional 96,697 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Paycom Software during the 4th quarter worth approximately $3,395,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. BMO Capital Markets lifted their price target on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research note on Thursday, May 8th. Stifel Nicolaus boosted their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. KeyCorp increased their target price 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. 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. 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $226.90.

Paycom Software Price Performance

Paycom Software stock traded down $4.39 during mid-day trading on Tuesday, hitting $254.06. 501,538 shares of the company were exchanged, compared to its average volume of 676,619. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $267.76. The company has a market capitalization of $14.70 billion, a P/E ratio of 28.55, a PEG ratio of 2.40 and a beta of 0.81. The business's 50 day simple moving average is $236.37 and its two-hundred day simple moving average is $222.37.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. The company had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. Paycom Software's revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.59 EPS. Equities research analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Tuesday, May 27th. Paycom Software's payout ratio is 21.40%.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the transaction, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $234,256.90. Following the sale, the chief operating officer now directly owns 49,394 shares of the company's stock, valued at $13,000,994.74. This represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 173,516 shares of company stock valued at $42,964,698. Insiders own 10.90% of the company's stock.

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.