5,686 Shares in Paycom Software, Inc. (NYSE:PAYC) Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd has acquired 5,686 shares of Paycom Software, Inc. valued at approximately $1.24 million during Q1, increasing interest from institutional investors in the company.
• Paycom Software's latest earnings report showed an EPS of $2.80, beating estimates, with revenue of $530.5 million reflecting a 6.1% year-over-year growth.
• Recent insider sales include 1,500 shares sold by an insider at an average price of $249.96, which represents a 5.22% decrease in their ownership stake.

XTX Topco Ltd bought a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,686 shares of the software maker's stock, valued at approximately $1,242,000.

A number of other hedge funds also recently modified their holdings of the business. Brighton Jones LLC bought a new position in Paycom Software during the fourth quarter valued at about $638,000. LPL Financial LLC grew its position in shares of Paycom Software by 5.9% in the fourth quarter. LPL Financial LLC now owns 53,126 shares of the software maker's stock valued at $10,889,000 after purchasing an additional 2,953 shares during the last quarter. Norges Bank acquired a new stake in shares of Paycom Software in the fourth quarter valued at about $21,510,000. California Public Employees Retirement System grew its position in shares of Paycom Software by 20.0% in the fourth quarter. California Public Employees Retirement System now owns 84,310 shares of the software maker's stock valued at $17,281,000 after purchasing an additional 14,055 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Paycom Software by 46.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,254 shares of the software maker's stock valued at $462,000 after purchasing an additional 710 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

PAYC has been the topic of several research analyst reports. Stifel Nicolaus raised their price target on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. BMO Capital Markets upped their target price 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. Piper Sandler boosted their price target on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Barclays upped their target price on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $226.90.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value of $374,940.00. Following the transaction, the insider directly owned 27,233 shares in the company, valued at $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chad R. Richison sold 120,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the transaction, the chief executive officer owned 3,307,249 shares in the company, valued at approximately $805,381,276.48. The trade was a 3.50% 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 worth $42,736,608 over the last three months. 10.90% of the stock is currently owned by insiders.

Paycom Software Price Performance

Shares of NYSE:PAYC traded up $3.02 during midday trading on Monday, hitting $229.46. 566,688 shares of the company's stock were exchanged, compared to its average volume of 492,422. The stock has a 50 day moving average price of $239.49 and a 200-day moving average price of $226.60. The company has a market cap of $13.27 billion, a PE ratio of 32.73, a price-to-earnings-growth ratio of 2.49 and a beta of 0.81. Paycom Software, Inc. has a 12 month low of $152.46 and a 12 month high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The company had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. During the same period in the previous year, the firm posted $2.59 earnings per share. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 25th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. Paycom Software's payout ratio is 21.40%.

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.