1,019 Shares in Paycom Software, Inc. (NYSE:PAYC) Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC bought a new position in Paycom Software, Inc. (NYSE:PAYC) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,019 shares of the software maker’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oak Family Advisors LLC bought a new position in shares of Paycom Software in the fourth quarter worth about $2,994,000. ARK & TLK Investments LLC bought a new position in Paycom Software in the 4th quarter worth $2,260,000. Janney Montgomery Scott LLC grew its position in shares of Paycom Software by 26.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 50,315 shares of the software maker’s stock worth $10,401,000 after purchasing an additional 10,555 shares in the last quarter. Norges Bank bought a new stake in Paycom Software during the 4th quarter valued at approximately $6,670,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Paycom Software by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 302,544 shares of the software maker’s stock worth $62,542,000 after purchasing an additional 12,708 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $140.46, for a total transaction of $273,897.00. Following the transaction, the chief executive officer now directly owns 3,041,258 shares of the company’s stock, valued at approximately $427,175,098.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $140.46, for a total value of $273,897.00. Following the completion of the sale, the chief executive officer now directly owns 3,041,258 shares in the company, valued at approximately $427,175,098.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $130,110.66. Following the transaction, the insider now owns 43,367 shares in the company, valued at approximately $6,227,934.87. The disclosure for this sale can be found here. Insiders sold 27,637 shares of company stock valued at $4,269,160 over the last 90 days. Insiders own 12.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PAYC. William Blair reaffirmed a “market perform” rating on shares of Paycom Software in a 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. TD Cowen lowered their price objective on shares of Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a research report on Thursday, June 20th. Jefferies Financial Group reduced their target price on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Finally, BMO Capital Markets decreased their price objective 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. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $237.81.

Paycom Software Stock Performance

Shares of PAYC opened at $143.04 on Monday. The stock has a market capitalization of $8.31 billion, a PE ratio of 17.42, a PEG ratio of 2.17 and a beta of 1.16. The company has a 50 day moving average price of $163.40 and a 200-day moving average price of $183.39. Paycom Software, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $374.04.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. The business had revenue of $499.88 million for 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%. Equities research analysts forecast that Paycom Software, Inc. will post 6.37 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were paid a dividend of $0.375 per share. The ex-dividend date was Friday, May 24th. This represents a $1.50 annualized dividend and a dividend yield of 1.05%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

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.