Victory Capital Management Inc. Has $4.11 Million Stake in Paycom Software, Inc. (NYSE:PAYC)

Key Points

• Victory Capital Management Inc. increased its stake in Paycom Software by 132.8%, owning 18,809 shares valued at approximately $4.11 million.
• The CEO sold 23,200 shares for over $6.15 million, representing a slight decrease in his overall ownership.
• Paycom Software reported earnings of $2.80 per share, exceeding estimates, with quarterly revenue of $530.50 million, marking a year-over-year increase of 6.1%.

Victory Capital Management Inc. raised its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 132.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 18,809 shares of the software maker's stock after purchasing an additional 10,731 shares during the period. Victory Capital Management Inc.'s holdings in Paycom Software were worth $4,109,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Glass Jacobson Investment Advisors llc increased its stake in shares of Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after acquiring an additional 112 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Paycom Software in the 1st quarter valued at $27,000. Golden State Wealth Management LLC increased its stake in shares of Paycom Software by 112.3% in the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after acquiring an additional 87 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Paycom Software in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 23,200 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total value of $6,152,640.00. Following the sale, the chief executive officer directly owned 3,224,049 shares of the company's stock, valued at approximately $855,017,794.80. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the completion of the sale, the insider directly owned 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 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 over the last three months. 10.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

PAYC has been the subject of several research analyst reports. Barclays lifted their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. 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 research report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Stifel Nicolaus lifted their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Finally, BMO Capital Markets lifted their price target on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $226.90.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $238.76 on Monday. The company's 50-day moving average is $242.07 and its 200 day moving average is $225.56. The company has a market capitalization of $13.81 billion, a P/E ratio of 34.06, a price-to-earnings-growth ratio of 2.63 and a beta of 0.77. Paycom Software, Inc. has a fifty-two week low of $152.46 and a fifty-two week high of $267.76.

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. The company had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.59 EPS. As a group, research analysts predict 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 was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is presently 21.40%.

About Paycom Software

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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