Sowell Financial Services LLC Takes $415,000 Position in Paycom Software, Inc. (NYSE:PAYC)

Sowell Financial Services LLC acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,900 shares of the software maker's stock, valued at approximately $415,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAYC. Glass Jacobson Investment Advisors llc lifted its position in shares of Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after purchasing an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Paycom Software during the 4th quarter worth $30,000. MassMutual Private Wealth & Trust FSB boosted its position in Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after buying an additional 87 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Paycom Software in the 1st quarter valued at $35,000. Finally, Putney Financial Group LLC acquired a new stake in shares of Paycom Software in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Activity

In related news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction dated Thursday, June 12th. The stock was 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 in the company, valued at approximately $6,807,160.68. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Randall Peck sold 890 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the sale, the chief operating officer now directly owns 49,394 shares in the company, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,016 shares of company stock worth $42,736,608 in the last 90 days. Corporate insiders own 10.90% of the company's stock.

Paycom Software Price Performance

PAYC traded up $2.33 during mid-day trading on Tuesday, hitting $235.30. The stock had a trading volume of 547,400 shares, compared to its average volume of 664,400. The stock's fifty day simple moving average is $243.24 and its 200-day simple moving average is $222.95. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 2.56 and a beta of 0.81. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analysts' expectations of $522.92 million. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The firm's quarterly 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. As a group, research analysts expect 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 dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 27th. Paycom Software's dividend payout ratio is currently 21.40%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PAYC. KeyCorp upped their price target on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Piper Sandler boosted their price objective on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. BMO Capital Markets raised their target price on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research note on Thursday, May 8th. Barclays boosted their price target on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Finally, Stifel Nicolaus raised their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Paycom Software presently has an average rating of "Hold" and a consensus target price of $226.90.

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.