Paycom Software, Inc. (NYSE:PAYC) Shares Bought by Norden Group LLC

Norden Group LLC boosted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 2,298.5% in the first quarter, HoldingsChannel reports. The firm owned 67,998 shares of the software maker’s stock after buying an additional 65,163 shares during the period. Norden Group LLC’s holdings in Paycom Software were worth $13,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAYC. HBK Sorce Advisory LLC increased its holdings in Paycom Software by 5.9% in the fourth quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock valued at $204,000 after buying an additional 55 shares in the last quarter. Optas LLC increased its holdings in Paycom Software by 6.1% in the first quarter. Optas LLC now owns 1,059 shares of the software maker’s stock valued at $211,000 after buying an additional 61 shares in the last quarter. Bouvel Investment Partners LLC increased its holdings in Paycom Software by 1.0% in the fourth quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock valued at $1,329,000 after buying an additional 63 shares in the last quarter. Wahed Invest LLC increased its holdings in Paycom Software by 7.9% in the fourth quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock valued at $181,000 after buying an additional 64 shares in the last quarter. Finally, Court Place Advisors LLC increased its holdings in Paycom Software by 3.3% in the fourth quarter. Court Place Advisors LLC now owns 2,065 shares of the software maker’s stock valued at $427,000 after buying an additional 65 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $180.82, for a total transaction of $352,599.00. Following the completion of the sale, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at approximately $559,087,845.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Paycom Software news, EVP Amy Vickroy sold 1,381 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the transaction, the executive vice president now directly owns 19,962 shares in the company, valued at $2,862,351.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Friday, May 17th. The shares were sold at an average price of $180.82, for a total value of $352,599.00. Following the completion of the sale, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at $559,087,845.56. The disclosure for this sale can be found here. Insiders have sold a total of 31,537 shares of company stock valued at $4,823,818 in the last quarter. Insiders own 12.60% of the company’s stock.

Paycom Software Price Performance

Shares of PAYC stock opened at $142.95 on Thursday. The company has a market capitalization of $8.31 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 2.16 and a beta of 1.16. The firm’s 50-day moving average is $160.70 and its two-hundred day moving average is $182.25. Paycom Software, Inc. has a 12 month low of $139.69 and a 12 month 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, topping analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The business had revenue of $499.88 million during the quarter, compared to the consensus estimate of $495.89 million. Sell-side analysts forecast that Paycom Software, Inc. will post 6.37 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th were given a $0.375 dividend. The ex-dividend date was Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 1.05%. Paycom Software’s dividend payout ratio is currently 18.27%.

Analyst Ratings Changes

PAYC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. TD Cowen cut their target price on shares of Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a research note on Thursday, June 20th. Citigroup cut their target price on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. Finally, William Blair reissued a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Sixteen analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Paycom Software presently has an average rating of “Hold” and a consensus target price of $237.81.

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.