Zurich Insurance Group Ltd FI Takes Position in Paycom Software, Inc. (NYSE:PAYC)

Zurich Insurance Group Ltd FI purchased a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 297,030 shares of the software maker's stock, valued at approximately $60,882,000. Zurich Insurance Group Ltd FI owned 0.52% of Paycom Software as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PAYC. Private Trust Co. NA raised its position in Paycom Software by 9.3% during the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock worth $118,000 after acquiring an additional 49 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Paycom Software by 1.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock worth $602,000 after acquiring an additional 51 shares in the last quarter. Benjamin Edwards Inc. raised its position in Paycom Software by 1.1% during the fourth quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker's stock worth $1,128,000 after acquiring an additional 60 shares in the last quarter. Fiduciary Trust Co raised its position in Paycom Software by 1.6% during the fourth quarter. Fiduciary Trust Co now owns 4,495 shares of the software maker's stock worth $921,000 after acquiring an additional 71 shares in the last quarter. Finally, Valley National Advisers Inc. raised its position in shares of Paycom Software by 0.7% in the fourth quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker's stock valued at $2,192,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

Paycom Software Trading Down 0.2%

PAYC opened at $259.89 on Tuesday. The company's 50 day moving average is $223.59 and its 200-day moving average is $218.54. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $261.64. The company has a market cap of $15.04 billion, a P/E ratio of 29.20, a PEG ratio of 2.40 and a beta of 0.80.

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, beating analysts' consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The company had revenue of $530.50 million for the quarter, compared to the consensus estimate of $522.92 million. During the same period last year, the company posted $2.59 EPS. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be paid a $0.375 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.58%. Paycom Software's payout ratio is currently 21.40%.

Insider Buying and Selling

In related news, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the sale, the insider now directly owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chad R. Richison sold 26,426 shares of Paycom Software stock in a transaction that occurred on 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 sale, the chief executive officer now owns 3,277,249 shares in the company, valued at approximately $837,402,664.48. This represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,526 shares of company stock worth $37,450,796 in the last ninety days. Company insiders own 10.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. KeyCorp increased their price objective 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. Piper Sandler increased their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, Stifel Nicolaus raised their price target on shares of Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Paycom Software currently has an average rating of "Hold" and a consensus target price of $226.90.

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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