Russell Investments Group Ltd. Has $19.16 Million Holdings in Paycom Software, Inc. $PAYC

Key Points

• Russell Investments Group Ltd. increased its stake in Paycom Software by 209.3% during the first quarter, acquiring 59,325 additional shares and reaching a total ownership of $19.16 million.
• CEO Chad R. Richison sold 23,200 shares at an average price of $265.20, resulting in a total transaction value of approximately $6.15 million, which slightly decreased his ownership in the company.
• Paycom Software recently declared a quarterly dividend of $0.375 per share, with an annualized dividend yield of 0.7% and a payout ratio of 20.30%.

Russell Investments Group Ltd. lifted its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 209.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,676 shares of the software maker's stock after purchasing an additional 59,325 shares during the quarter. Russell Investments Group Ltd. owned 0.15% of Paycom Software worth $19,160,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Commerce Bank grew its stake in Paycom Software by 2.2% in the first quarter. Commerce Bank now owns 2,351 shares of the software maker's stock valued at $514,000 after purchasing an additional 50 shares in the last quarter. Allworth Financial LP grew its stake in Paycom Software by 12.9% in the first quarter. Allworth Financial LP now owns 464 shares of the software maker's stock valued at $105,000 after purchasing an additional 53 shares in the last quarter. US Bancorp DE grew its stake in Paycom Software by 0.5% in the first quarter. US Bancorp DE now owns 10,421 shares of the software maker's stock valued at $2,277,000 after purchasing an additional 57 shares in the last quarter. Salvus Wealth Management LLC raised its holdings in shares of Paycom Software by 4.9% in the 1st 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 during the period. Finally, Burns Matteson Capital Management LLC raised its holdings in shares of Paycom Software by 2.5% in the 1st quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker's stock valued at $513,000 after purchasing an additional 58 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software 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, August 7th. KeyCorp lifted their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Piper Sandler lifted their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $234.36.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the transaction, the insider owned 27,233 shares in the company, valued at $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 available at the SEC website. Also, CEO Chad R. Richison sold 23,200 shares of Paycom Software stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total value of $6,152,640.00. Following the completion of the transaction, the chief executive officer directly owned 3,224,049 shares of the company's stock, valued at $855,017,794.80. This represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,590 shares of company stock valued at $6,761,837 over the last 90 days. 10.90% of the stock is owned by corporate insiders.

Paycom Software Stock Performance

Shares of NYSE PAYC traded up $5.6090 during trading hours on Friday, reaching $230.9290. 86,148 shares of the stock were exchanged, compared to its average volume of 625,258. The firm has a market capitalization of $13.37 billion, a price-to-earnings ratio of 31.26, a P/E/G ratio of 2.48 and a beta of 0.81. Paycom Software, Inc. has a 52 week low of $153.08 and a 52 week high of $267.76. The stock's fifty day simple moving average is $229.64 and its 200 day simple moving average is $227.86.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its 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 company had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The firm's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 earnings per share. Research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors 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 payout ratio is 20.30%.

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.