Goldman Sachs Group Inc. Buys 20,879 Shares of Paycom Software, Inc. (NYSE:PAYC)

Goldman Sachs Group Inc. raised its stake in Paycom Software, Inc. (NYSE:PAYC) by 10.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 211,658 shares of the software maker’s stock after acquiring an additional 20,879 shares during the period. Goldman Sachs Group Inc.’s holdings in Paycom Software were worth $43,754,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PAYC. International Assets Investment Management LLC grew its position in shares of Paycom Software by 16,173.6% in the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock valued at $162,855,000 after buying an additional 782,962 shares during the last quarter. ValueAct Holdings L.P. bought a new stake in shares of Paycom Software in the 4th quarter valued at about $125,686,000. Meritage Group LP bought a new stake in shares of Paycom Software in the 3rd quarter valued at about $103,800,000. Boston Trust Walden Corp bought a new stake in shares of Paycom Software in the 4th quarter valued at about $48,865,000. Finally, American Century Companies Inc. grew its position in shares of Paycom Software by 18.8% in the 3rd quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock valued at $295,441,000 after buying an additional 180,202 shares during the last quarter. 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. JPMorgan Chase & Co. upped their target price on Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, May 2nd. BMO Capital Markets cut their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. Finally, Mizuho cut their target price on Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Sixteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $240.94.

Paycom Software Stock Up 3.0 %

Shares of Paycom Software stock opened at $145.70 on Friday. The company has a market cap of $8.47 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.18 and a beta of 1.17. Paycom Software, Inc. has a 52 week low of $140.12 and a 52 week high of $374.04. The business has a 50 day moving average price of $168.92 and a 200-day moving average price of $185.30.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, topping the consensus estimate of $1.96 by $2.29. The firm had revenue of $499.88 million during the quarter, compared to the consensus estimate of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. As a group, research analysts anticipate that Paycom Software, Inc. will post 6.26 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, May 24th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Insider Transactions at Paycom Software

In other news, insider Jason D. Clark sold 906 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $143.61, for a total value of $130,110.66. Following the completion of the sale, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $180.82, for a total value of $352,599.00. Following the completion of the transaction, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at $559,087,845.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jason D. Clark sold 906 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $143.61, for a total value of $130,110.66. Following the completion of the transaction, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The disclosure for this sale can be found here. Insiders sold a total of 21,787 shares of company stock valued at $3,430,426 over the last ninety days. 14.50% of the stock is currently owned by insiders.

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.