Wealthedge Investment Advisors LLC Takes $420,000 Position in Paycom Software, Inc. (NYSE:PAYC)

Key Points

• Wealthedge Investment Advisors LLC has taken a new stake in Paycom Software, Inc., acquiring 1,923 shares valued at approximately $420,000.
• Paycom Software reported an earnings per share of $2.06 for the last quarter, surpassing the consensus estimate of $1.78, with revenue growing 10.5% year-over-year.
• The company has announced a quarterly dividend of $0.375, which will be paid on September 8th, with a dividend yield of 0.7%.

Wealthedge Investment Advisors LLC acquired a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,923 shares of the software maker's stock, valued at approximately $420,000.

Other institutional investors also recently modified their holdings of the company. Commerce Bank boosted its stake in 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 lifted its stake in shares of Paycom Software by 12.9% in the first quarter. Allworth Financial LP now owns 464 shares of the software maker's stock valued at $105,000 after buying an additional 53 shares in the last quarter. US Bancorp DE lifted its stake 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 buying an additional 57 shares in 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 in the last quarter. Finally, Burns Matteson Capital Management LLC lifted its stake in shares of Paycom Software by 2.5% in the first quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker's stock valued at $513,000 after buying an additional 58 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Paycom Software Trading Down 2.5%

Shares of NYSE:PAYC opened at $216.04 on Friday. The company has a 50 day moving average of $232.81 and a 200 day moving average of $227.28. The stock has a market cap of $12.50 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.50 and a beta of 0.81. 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 earnings per share (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 business had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. During the same period in the previous year, the business posted $1.62 earnings per share. Paycom Software's revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 25th. Paycom Software's payout ratio is presently 20.30%.

Insider Transactions at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 23,200 shares of Paycom Software stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the completion of the transaction, the chief executive officer directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 25,590 shares of company stock worth $6,761,837. 10.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays raised their price objective on shares of Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Stifel Nicolaus increased 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. JPMorgan Chase & Co. increased their target price on shares of Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. BMO Capital Markets increased 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $234.36.

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.

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