Bennett Selby Investments LP Raises Stake in Paycom Software, Inc. (NYSE:PAYC)

Bennett Selby Investments LP increased its stake in Paycom Software, Inc. (NYSE:PAYC) by 1.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 6,091 shares of the software maker’s stock after buying an additional 100 shares during the quarter. Bennett Selby Investments LP’s holdings in Paycom Software were worth $1,331,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Glass Jacobson Investment Advisors llc raised its stake in Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock valued at $26,000 after acquiring an additional 112 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Paycom Software during the fourth quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock valued at $33,000 after buying an additional 87 shares during the period. Putney Financial Group LLC bought a new position in shares of Paycom Software in the fourth quarter worth approximately $39,000. Finally, IFP Advisors Inc increased its position in shares of Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after purchasing an additional 178 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

NYSE:PAYC opened at $265.69 on Friday. The firm has a market cap of $15.37 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $267.76. The business has a 50 day moving average price of $235.57 and a 200-day moving average price of $222.20.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $522.92 million. During the same quarter last year, the firm posted $2.59 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. Research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Tuesday, May 27th. Paycom Software’s payout ratio is 21.40%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PAYC. JPMorgan Chase & Co. upped their target price on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Wall Street Zen lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. BMO Capital Markets upped their target price on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a research note on Thursday, May 8th. KeyCorp upped their target price on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $226.90.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the transaction, the insider now owns 28,733 shares in the company, valued at approximately $5,775,620.33. This represents a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chad R. Richison sold 23,200 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total value of $6,152,640.00. Following the completion of the transaction, the chief executive officer now owns 3,224,049 shares of the company’s stock, valued at approximately $855,017,794.80. This trade represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 173,516 shares of company stock valued at $42,964,698 over the last quarter. 10.90% of the stock is owned by company insiders.

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.