Woodline Partners LP Takes $1.38 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Woodline Partners LP purchased a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,720 shares of the software maker's stock, valued at approximately $1,377,000.

Other institutional investors also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc boosted 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 worth $26,000 after buying an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Paycom Software during the 4th quarter valued at about $30,000. IFP Advisors Inc grew its stake in shares of Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock valued at $43,000 after purchasing an additional 178 shares during the period. Parvin Asset Management LLC purchased a new stake in shares of Paycom Software during the 4th quarter valued at about $61,000. Finally, Blue Trust Inc. lifted its stake in shares of Paycom Software by 33.3% in the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock worth $72,000 after purchasing an additional 88 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Chad R. Richison sold 26,426 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the completion of the sale, the chief executive officer now directly owns 3,277,249 shares of the company's stock, valued at approximately $837,402,664.48. This trade represents a 0.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the sale, the insider now directly owns 28,733 shares of the company's stock, valued at $5,775,620.33. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 149,426 shares of company stock worth $36,577,802. Company insiders own 10.90% of the company's stock.

Paycom Software Stock Down 1.5%

Shares of PAYC stock traded down $3.85 on Thursday, hitting $255.61. The stock had a trading volume of 319,986 shares, compared to its average volume of 696,226. The company has a market cap of $14.79 billion, a PE ratio of 28.72, a P/E/G ratio of 2.40 and a beta of 0.80. The business has a 50 day moving average price of $229.99 and a 200 day moving average price of $220.34. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $263.27.

Paycom Software (NYSE:PAYC - Get Free Report) last issued 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. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The business had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. During the same quarter last year, the company earned $2.59 earnings per share. The company's quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is presently 21.40%.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of recent research reports. Wall Street Zen downgraded Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their price target on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised their price objective on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Piper Sandler lifted their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets upped their price target on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $226.90.

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.