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

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

Several other large investors have also recently added to or reduced their stakes in the stock. Private Trust Co. NA increased its holdings in Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock worth $118,000 after buying an additional 49 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Paycom Software by 1.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock valued at $602,000 after purchasing an additional 51 shares during the last quarter. Salvus Wealth Management LLC lifted its stake in shares of Paycom Software by 4.9% in the first quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker's stock valued at $270,000 after buying an additional 58 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Paycom Software by 1.1% in the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker's stock worth $1,128,000 after acquiring an additional 60 shares during the period. Finally, Fourpath Capital Management LLC lifted its position in Paycom Software by 1.9% in the first quarter. Fourpath Capital Management LLC now owns 3,798 shares of the software maker's stock worth $830,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 27,233 shares in the company, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Chad R. Richison sold 26,426 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $255.52, for a total value of $6,752,371.52. Following the completion of the transaction, the chief executive officer now owns 3,277,249 shares in the company, valued at $837,402,664.48. The trade was a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,016 shares of company stock valued at $42,736,608 in the last three months. 10.90% of the stock is currently owned by company insiders.

Paycom Software Stock Up 0.7%

Shares of PAYC stock opened at $227.03 on Friday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $267.76. The company's fifty day simple moving average is $244.08 and its 200-day simple moving average is $222.79. The firm has a market cap of $13.13 billion, a PE ratio of 32.39, a P/E/G ratio of 2.50 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The firm had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same quarter in the previous year, the firm earned $2.59 EPS. The business's quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted their price objective on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Piper Sandler upped their target price 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. KeyCorp lifted their price objective on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Barclays increased their price target on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company 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.

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