Vestmark Advisory Solutions Inc. Raises Holdings in Paycom Software, Inc. $PAYC

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Paycom Software by 52.9% during the first quarter, owning 4,398 shares valued at approximately $961,000.
• Paycom Software reported earnings of $2.06 EPS for the last quarter, exceeding analyst expectations by $0.28, and its revenue rose by 10.5% year-over-year.
• The company declared a quarterly dividend of $0.375 per share, paying a yield of 0.7%, with the payout ratio standing at 20.30%.

Vestmark Advisory Solutions Inc. grew its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 52.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,398 shares of the software maker's stock after purchasing an additional 1,521 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Paycom Software were worth $961,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PAYC. Commerce Bank lifted its stake in Paycom Software by 2.2% during the 1st quarter. Commerce Bank now owns 2,351 shares of the software maker's stock valued at $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 acquiring an additional 53 shares in the last quarter. US Bancorp DE raised its holdings in shares of Paycom Software by 0.5% in the first quarter. US Bancorp DE now owns 10,421 shares of the software maker's stock valued at $2,277,000 after purchasing an additional 57 shares during the last quarter. Salvus Wealth Management LLC lifted its position in shares of Paycom Software by 4.9% during the first quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker's stock valued at $270,000 after purchasing an additional 58 shares in the last quarter. Finally, Burns Matteson Capital Management LLC lifted its position in shares of Paycom Software by 2.5% during the first quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker's stock valued at $513,000 after purchasing an additional 58 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Stock Down 0.7%

PAYC traded down $1.6470 during trading on Thursday, reaching $225.3030. 217,060 shares of the company were exchanged, compared to its average volume of 626,727. The company's 50-day moving average is $230.15 and its two-hundred day moving average is $227.72. Paycom Software, Inc. has a 12-month low of $153.08 and a 12-month high of $267.76. The company has a market cap of $13.04 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 2.49 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating the consensus estimate of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company 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 company earned $1.62 earnings per share. Paycom Software's revenue for the quarter was up 10.5% on a year-over-year basis. Equities analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software's dividend payout ratio (DPR) is currently 20.30%.

Analysts Set New Price Targets

Several research firms have commented on PAYC. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. KeyCorp lifted their price target on Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Barclays boosted their price objective on Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Cantor Fitzgerald started coverage on Paycom Software in a research report on Thursday, August 14th. They set a "neutral" rating and a $230.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target 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. One analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $234.36.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 23,200 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 3,224,049 shares in the company, valued at $855,017,794.80. This represents a 0.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Randall Peck sold 890 shares of the company'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 owned 49,394 shares in the company, valued at approximately $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,590 shares of company stock worth $6,761,837 over the last ninety days. 10.90% of the stock is 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.