Accurate Wealth Management LLC Buys 1,792 Shares of Paycom Software, Inc. (NYSE:PAYC)

Accurate Wealth Management LLC raised its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 37.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,585 shares of the software maker’s stock after purchasing an additional 1,792 shares during the quarter. Accurate Wealth Management LLC’s holdings in Paycom Software were worth $1,421,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PAYC. Glass Jacobson Investment Advisors llc grew its stake in Paycom Software by 746.7% during the fourth 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 in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Paycom Software in the fourth quarter worth $30,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Paycom Software by 135.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock worth $33,000 after purchasing an additional 87 shares during the period. Putney Financial Group LLC bought a new position in shares of Paycom Software during the fourth quarter valued at approximately $39,000. Finally, IFP Advisors Inc increased its stake in 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 period. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. KeyCorp upped their price target on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, May 8th. Barclays boosted their price target on Paycom Software from $221.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Finally, Piper Sandler raised their target price on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $226.90.

Paycom Software Trading Down 2.7%

Shares of PAYC opened at $258.48 on Tuesday. The stock’s 50 day moving average is $235.57 and its two-hundred day moving average is $222.17. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $267.76. The firm has a market cap of $14.95 billion, a P/E ratio of 29.04, a PEG ratio of 2.40 and a beta of 0.81.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, May 7th. The software maker reported $2.80 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 business had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. During the same quarter in the prior year, the firm earned $2.59 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were given a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.58%. Paycom Software’s dividend payout ratio (DPR) is presently 21.40%.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the transaction, the insider now owns 28,733 shares of the company’s stock, valued at $5,775,620.33. This trade represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Randall Peck sold 890 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the sale, the chief operating officer now directly owns 49,394 shares in the company, valued at approximately $13,000,994.74. The trade was a 1.77% 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 in the last three months. 10.90% of the stock is currently owned by insiders.

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.