Strive Asset Management LLC Purchases Shares of 1,661 Paycom Software, Inc. (NYSE:PAYC)

Strive Asset Management LLC acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,661 shares of the software maker's stock, valued at approximately $340,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in Paycom Software during the 4th quarter worth $7,142,000. Glenview Trust co increased its position in Paycom Software by 27.1% during the fourth 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 raised its stake in 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 purchasing an additional 4,685 shares in the last quarter. American Century Companies Inc. raised its stake in 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 purchasing an additional 15,852 shares in the last quarter. Finally, Jacksonville Wealth Management LLC bought a new stake in Paycom Software in the 4th quarter valued at about $394,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Insiders Place Their Bets

In related news, COO Randall Peck sold 3,600 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the transaction, the chief operating officer now owns 50,665 shares in the company, valued at $10,750,606.35. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the transaction, the insider now directly owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,526 shares of company stock valued at $37,450,796. 10.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. 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. 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. Barclays increased their target price on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. StockNews.com downgraded Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, Piper Sandler upped 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. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $226.90.

Paycom Software Trading Up 1.7%

Shares of Paycom Software stock opened at $260.70 on Friday. The firm's 50 day moving average is $222.52 and its 200 day moving average is $218.13. The firm has a market capitalization of $15.08 billion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $261.64.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. The company had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.59 earnings per share. As a group, research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a yield of 0.58%. Paycom Software's payout ratio is 21.40%.

Paycom Software Company 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.

Want to see what other hedge funds are holding PAYC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paycom Software, Inc. (NYSE:PAYC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.