Woodline Partners LP Buys New Holdings in Paycom Software, Inc. (NYSE:PAYC)

Woodline Partners LP acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,720 shares of the software maker's stock, valued at approximately $1,377,000.

Several other institutional investors and hedge funds also recently modified their holdings of PAYC. Glass Jacobson Investment Advisors llc raised its holdings in Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after acquiring an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Paycom Software during the fourth quarter worth about $30,000. IFP Advisors Inc raised its holdings in Paycom Software by 635.7% during the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock worth $43,000 after acquiring an additional 178 shares in the last quarter. Parvin Asset Management LLC bought a new stake in Paycom Software in the fourth quarter valued at approximately $61,000. Finally, Blue Trust Inc. raised its stake in Paycom Software by 33.3% in the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock valued at $72,000 after buying an additional 88 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Up 0.2%

Shares of Paycom Software stock traded up $0.50 on Friday, hitting $256.18. The stock had a trading volume of 175,868 shares, compared to its average volume of 694,133. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $262.80. The business's 50 day moving average is $230.63 and its two-hundred day moving average is $220.53. The stock has a market cap of $14.82 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The firm had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same quarter last year, the company earned $2.59 EPS. The company's revenue was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

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

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 26,426 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $255.52, for a total value of $6,752,371.52. Following the sale, the chief executive officer now 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 SEC, which can be accessed through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the firm's 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 in the company, valued at approximately $5,775,620.33. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 149,426 shares of company stock worth $36,577,802 in the last 90 days. Company insiders own 10.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler upped their price objective on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped 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. BMO Capital Markets upped their price objective on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research note on Thursday, May 8th. Finally, Stifel Nicolaus upped their price objective on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $226.90.

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.