Kingsview Wealth Management LLC increased its holdings in Paycom Software Inc. (NYSE:PAYC – free report ) by 51.5% during the first quarter, according to the latest filing with the Securities and Exchange Commission. The institutional investor acquired an additional 740 shares during the period, giving it a holding of 2,176 shares of the software maker’s stock. Kingsview Wealth Management LLC’s holdings in Paycom Software were worth $433,000 at the end of the most recent quarter.
Other hedge funds and institutional investors also modified their holdings in PAYC. Raymond James & Associates increased its holdings in Paycom Software by 25.4% in the fourth quarter. Raymond James & Associates now owns 15,614 shares of the software maker’s stock valued at $3.228 million. It acquired an additional 3,164 shares in the last quarter. HBW Advisory Services LLC increased its holdings in Paycom Software by 8.9% in the fourth quarter. HBW Advisory Services LLC now owns 11,513 shares of the software maker’s stock valued at $2.38 million. It acquired an additional 941 shares in the last quarter. Connective Portfolio Management LLC purchased a new stake in Paycom Software worth approximately $827,000 in the fourth quarter. Sendero Wealth Management LLC increased its holdings in Paycom Software by 4.6% during the fourth quarter. Sendero Wealth Management LLC now owns 7,540 shares of the software maker’s stock valued at $1,559,000 after purchasing an additional 330 shares during the last quarter. Finally, Teamwork Financial Advisors LLC increased its holdings in Paycom Software by 39.5% during the fourth quarter. Teamwork Financial Advisors LLC now owns 1,172 shares of the software maker’s stock valued at $242,000 after purchasing an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.
Paycom software price performance
NYSE:PAYC opened trading at $158.10 on Friday. The company’s 50-day simple moving average is $153.47 and its 200-day simple moving average is $177.49. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio (PE) of 19.26, a price-to-earnings ratio (PE/G) of 2.63 and a beta of 1.16. Paycom Software, Inc.’s low over the past year is $139.50 and its high over the past year is $374.04.
Paycom Software (NYSE:PAYC – get free report ) announced its quarterly earnings results on Wednesday, May 1st. The software maker reported quarterly EPS of $4.25, beating the consensus estimate of $1.96 by $2.29. Paycom Software had net margins of 26.91% and return on equity of 32.84%. The company’s quarterly revenues of $499.88 million beat analyst estimates of $495.89 million. Sell-side analysts expect Paycom Software, Inc. to post EPS of $6.36 for the current fiscal year.
Paycom Software announces dividend
The company also recently declared 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. This equates to an annualized dividend of $1.50 and a yield of 0.95%. The ex-dividend date for this dividend was Friday, May 24th. Paycom Software has a dividend payout ratio (DPR) of 18.27%.
Insider trading
In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $180.82, for a total transaction value of $352,599.00. Following the completion of the transaction, the CEO now owns 3,091,958 shares of the company’s stock, valued at $559,087,845.56. The sale was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed on the SEC’s website. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $180.82, for a total transaction value of $352,599.00. Following the completion of the sale, the CEO now directly owns 3,091,958 shares of the company’s stock, valued at $559,087,845.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, in a transaction which took place on Tuesday, June 11th, Executive Vice President, Amy Vickroy sold 1,381 shares of the company’s stock. The shares were sold at an average price of $143.39, for a total transaction value of $198,021.59. Following the sale, the Executive Vice President now owns 19,962 shares of the company’s stock, valued at $2,862,351.18. The disclosure for this sale can be found here. During the most recent quarter, insiders sold 45,187 shares of the company’s stock for $6,828,964. Insiders now own 14.50% of the company’s stock.
What Wall Street analysts are saying
PAYC has been the topic of many research analyst reports. TD Cowen lowered their price objective on Paycom Software from $170.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, June 20th. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Needham & Company LLC reaffirmed their “hold” rating on shares of Paycom Software in a report on Thursday, May 2nd. Citigroup lowered their price objective on Paycom Software from $193.00 to $162.00 and gave the stock a “neutral” rating in a report on Tuesday, June 18th. Finally, Barclays lowered their price objective on Paycom Software from $184.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. Seventeen investment analysts have rated the stock with a hold rating, and three have given a buy rating to the stock. MarketBeat has given the stock an average rating of “hold” and an average target price of $236.38.
Check out the latest PAYC stock report
About Paycom Software
(Free report)
Paycom Software, Inc. provides cloud-based human capital management (HCM) solutions as software-as-a-service to small and medium-sized businesses in the United States, providing the functionality and data analytics companies need to manage the employee lifecycle from hire to retire.
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