Lazard Asset Management LLC Buys 3,974 Shares of Paycom Software, Inc. (NYSE:PAYC)

Lazard Asset Management LLC raised its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 35.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,322 shares of the software maker's stock after acquiring an additional 3,974 shares during the quarter. Lazard Asset Management LLC's holdings in Paycom Software were worth $3,140,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Glass Jacobson Investment Advisors llc increased its position in shares of 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 purchasing an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Paycom Software in the 4th quarter valued at about $30,000. IFP Advisors Inc increased its position in Paycom Software by 635.7% in the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock valued at $43,000 after acquiring an additional 178 shares during the period. Parvin Asset Management LLC acquired a new position in Paycom Software in the 4th quarter valued at about $61,000. Finally, Blue Trust Inc. increased its position in Paycom Software by 33.3% in the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock valued at $72,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. KeyCorp upped their price target on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Barclays upped their price target on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. upped their price target on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, BMO Capital Markets upped their price target on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of "Hold" and an average price target of $226.90.

Insider Activity at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the business's 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 completion of the transaction, the insider now directly owns 28,733 shares in the company, valued at $5,775,620.33. The trade was a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Chad R. Richison sold 26,426 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 3,277,249 shares of the company's stock, valued at $837,402,664.48. This trade represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,526 shares of company stock valued at $37,450,796. Corporate insiders own 10.90% of the company's stock.

Paycom Software Price Performance

PAYC traded up $0.29 during mid-day trading on Tuesday, hitting $260.22. The stock had a trading volume of 277,160 shares, compared to its average volume of 701,368. The stock's fifty day simple moving average is $223.59 and its 200-day simple moving average is $218.54. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $261.64.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its 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 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 analyst estimates of $522.92 million. During the same period last year, the business posted $2.59 earnings per share. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors 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 yield of 0.58%. The ex-dividend date of this dividend is Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is currently 21.40%.

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.