Spire Wealth Management Has $396,000 Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Spire Wealth Management boosted its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 183.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,810 shares of the software maker's stock after buying an additional 1,171 shares during the period. Spire Wealth Management's holdings in Paycom Software were worth $396,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Sylebra Capital LLC increased its position in shares of Paycom Software by 63.8% during the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock worth $658,996,000 after acquiring an additional 1,252,617 shares during the last quarter. FMR LLC increased its stake in Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock valued at $491,201,000 after buying an additional 1,388,533 shares during the period. Geode Capital Management LLC raised its stake in shares of Paycom Software by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker's stock worth $310,245,000 after buying an additional 89,848 shares in the last quarter. Northern Trust Corp grew its holdings in Paycom Software by 10.9% during the fourth quarter. Northern Trust Corp now owns 724,016 shares of the software maker's stock worth $148,402,000 after acquiring an additional 70,897 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Paycom Software by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock worth $102,090,000 after purchasing an additional 11,611 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Paycom Software

In other Paycom Software news, COO Randall Peck sold 890 shares of the firm'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 transaction, the chief operating officer directly owned 49,394 shares of the company's stock, valued at approximately $13,000,994.74. This trade represents a 1.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the transaction, the insider directly owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,016 shares of company stock valued at $42,736,608 over the last quarter. 10.90% of the stock is owned by insiders.

Paycom Software Stock Down 2.4%

Shares of Paycom Software stock traded down $5.50 during trading on Wednesday, reaching $228.30. The company's stock had a trading volume of 403,783 shares, compared to its average volume of 662,844. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $267.76. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 2.55 and a beta of 0.77. The company has a 50-day simple moving average of $245.03 and a two-hundred day simple moving average of $222.73.

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, 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 return on equity of 25.53% and a net margin of 20.60%. The business's revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.59 earnings per share. As a group, analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio is presently 21.40%.

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.