Paycom Software, Inc. $PAYC Shares Acquired by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management L.P. has increased its stake in Paycom Software, Inc. by 108.7%, now holding 2,400 shares valued at $524,000.
• Several institutional investors significantly boosted their positions in Paycom, with Baillie Gifford & Co. increasing its stake by an astounding 1,918.4% during the same period.
• Analysts have raised their target prices for Paycom Software, with BMO Capital Markets increasing it from $244.00 to $258.00, indicating growing confidence in the company.

Tocqueville Asset Management L.P. boosted its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 108.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,400 shares of the software maker's stock after purchasing an additional 1,250 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Paycom Software were worth $524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Commerce Bank raised its stake in shares of Paycom Software by 2.2% during the first quarter. Commerce Bank now owns 2,351 shares of the software maker's stock worth $514,000 after acquiring an additional 50 shares in the last quarter. Allworth Financial LP grew its stake in shares of Paycom Software by 12.9% in the 1st quarter. Allworth Financial LP now owns 464 shares of the software maker's stock worth $105,000 after buying an additional 53 shares during the last quarter. US Bancorp DE raised its holdings in Paycom Software by 0.5% in the 1st quarter. US Bancorp DE now owns 10,421 shares of the software maker's stock worth $2,277,000 after acquiring an additional 57 shares during the last quarter. Salvus Wealth Management LLC raised its holdings in Paycom Software by 4.9% in the 1st quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker's stock worth $270,000 after acquiring an additional 58 shares during the last quarter. Finally, Burns Matteson Capital Management LLC raised its holdings in Paycom Software by 2.5% in the 1st quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker's stock worth $513,000 after acquiring an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Piper Sandler upped their target price on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. BMO Capital Markets upped their target price on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. KeyCorp upped their target price on shares of Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Stifel Nicolaus upped their target price on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. One analyst has rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $234.36.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 23,200 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total value of $6,152,640.00. Following the completion of the sale, the chief executive officer owned 3,224,049 shares in the company, valued at approximately $855,017,794.80. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Randall Peck sold 890 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 49,394 shares of the company's stock, valued at $13,000,994.74. This trade represents a 1.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,590 shares of company stock worth $6,761,837. Company insiders own 10.90% of the company's stock.

Paycom Software Stock Up 3.7%

PAYC traded up $8.4190 on Friday, hitting $233.7390. The company had a trading volume of 699,286 shares, compared to its average volume of 629,180. The company has a market cap of $13.53 billion, a PE ratio of 31.63, a PEG ratio of 2.48 and a beta of 0.81. The business's fifty day simple moving average is $229.64 and its 200 day simple moving average is $227.86. Paycom Software, Inc. has a 12-month low of $153.08 and a 12-month high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The firm had revenue of $483.60 million during the quarter, compared to analysts' expectations of $472.00 million. During the same quarter in the previous year, the business earned $1.62 EPS. The company's quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be issued a $0.375 dividend. The ex-dividend date is Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. Paycom Software's payout ratio is presently 20.30%.

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.