Quantinno Capital Management LP Raises Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Quantinno Capital Management LP grew its position in Paycom Software, Inc. (NYSE:PAYC) by 14.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,890 shares of the software maker’s stock after purchasing an additional 2,770 shares during the period. Quantinno Capital Management LP’s holdings in Paycom Software were worth $4,487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PAYC. Private Trust Co. NA lifted its holdings in Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock valued at $118,000 after acquiring an additional 49 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Paycom Software by 1.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock valued at $602,000 after purchasing an additional 51 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of Paycom Software by 1.1% in the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker’s stock valued at $1,128,000 after purchasing an additional 60 shares during the last quarter. Fiduciary Trust Co grew its holdings in shares of Paycom Software by 1.6% during the 4th quarter. Fiduciary Trust Co now owns 4,495 shares of the software maker’s stock worth $921,000 after purchasing an additional 71 shares during the period. Finally, Valley National Advisers Inc. grew its holdings in shares of Paycom Software by 0.7% during the 4th quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker’s stock worth $2,192,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 26,426 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $255.52, for a total value of $6,752,371.52. Following the completion of the transaction, the chief executive officer now directly owns 3,277,249 shares of the company’s stock, valued at $837,402,664.48. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the transaction, the director now owns 7,730 shares in the company, valued at $1,686,840.60. This represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,526 shares of company stock valued at $37,450,796. Insiders own 10.90% of the company’s stock.

Paycom Software Trading Up 1.7%

Paycom Software stock opened at $260.70 on Friday. The firm has a market capitalization of $15.08 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.40 and a beta of 0.80. The stock’s fifty day simple moving average is $222.52 and its 200-day simple moving average is $218.13. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $261.64.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The company had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same quarter last year, the company earned $2.59 EPS. Paycom Software’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend 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 presently 21.40%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PAYC shares. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. KeyCorp boosted their price target on shares of Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Piper Sandler increased their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th. Finally, Barclays upped their price target on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $226.90.

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.