Sphera Management Technology Funds Ltd Takes Position in Paycom Software, Inc. (NYSE:PAYC)

Sphera Management Technology Funds Ltd bought a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,335 shares of the software maker's stock, valued at approximately $479,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of Paycom Software in the 4th quarter worth approximately $7,142,000. Glenview Trust co lifted its stake in shares of Paycom Software by 27.1% in the 4th quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock worth $2,520,000 after acquiring an additional 2,625 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Paycom Software by 175.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,351 shares of the software maker's stock worth $1,507,000 after acquiring an additional 4,685 shares during the period. American Century Companies Inc. lifted its stake in shares of Paycom Software by 43.0% in the 4th quarter. American Century Companies Inc. now owns 52,755 shares of the software maker's stock worth $10,813,000 after acquiring an additional 15,852 shares during the period. Finally, Jacksonville Wealth Management LLC acquired a new stake in shares of Paycom Software in the 4th quarter worth approximately $394,000. Institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PAYC. KeyCorp raised their target price on shares of Paycom Software from $245.00 to $270.00 and gave the stock 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. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Barclays raised their target price on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Finally, Piper Sandler raised their target price on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report 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. According to data from MarketBeat.com, Paycom Software currently has an average rating of "Hold" and an average target price of $226.90.

Paycom Software Price Performance

Paycom Software stock traded up $4.07 during midday trading on Thursday, reaching $261.32. The stock had a trading volume of 529,883 shares, compared to its average volume of 701,685. The firm's fifty day simple moving average is $225.72 and its two-hundred day simple moving average is $219.09. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $262.70. The firm has a market cap of $15.12 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The firm had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. During the same quarter last year, the business posted $2.59 EPS. The company's revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be given a $0.375 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a yield of 0.57%. 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 the stock in a transaction that occurred 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 completion of the sale, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This represents a 9.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chad R. Richison sold 26,426 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the completion of the sale, the chief executive officer now owns 3,277,249 shares of the company's stock, valued at approximately $837,402,664.48. The trade was a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 153,526 shares of company stock worth $37,450,796 in the last quarter. 10.90% of the stock is currently owned by corporate insiders.

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.