Avory & Company LLC Acquires 1,090 Shares of Paycom Software, Inc. (NYSE:PAYC)

Avory & Company LLC lifted its holdings in Paycom Software, Inc. (NYSE:PAYC) by 2.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 40,029 shares of the software maker’s stock after purchasing an additional 1,090 shares during the quarter. Paycom Software comprises 5.4% of Avory & Company LLC’s holdings, making the stock its 6th biggest position. Avory & Company LLC owned approximately 0.07% of Paycom Software worth $8,745,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PAYC. Proficio Capital Partners LLC bought a new position in Paycom Software during the 4th quarter worth about $7,142,000. Glenview Trust co grew its holdings in shares of Paycom Software by 27.1% during the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker’s stock worth $2,520,000 after buying an additional 2,625 shares in the last quarter. SG Americas Securities LLC raised its position in Paycom Software by 57.1% in the 1st quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker’s stock valued at $587,000 after buying an additional 976 shares during the last quarter. American Century Companies Inc. raised its position in Paycom Software by 43.0% in the 4th quarter. American Century Companies Inc. now owns 52,755 shares of the software maker’s stock valued at $10,813,000 after buying an additional 15,852 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Paycom Software by 11.9% in the 1st quarter. Rhumbline Advisers now owns 102,936 shares of the software maker’s stock valued at $22,489,000 after acquiring an additional 10,908 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Paycom Software Price Performance

Paycom Software stock opened at $225.98 on Friday. The company’s 50-day moving average is $243.69 and its 200-day moving average is $223.03. The firm has a market capitalization of $13.07 billion, a PE ratio of 32.24, a P/E/G ratio of 2.45 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.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. The firm had revenue of $530.50 million for the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.59 earnings per share. As a group, analysts expect 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 was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software’s dividend payout ratio (DPR) is presently 21.40%.

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value of $374,940.00. Following the transaction, the insider now owns 27,233 shares in the company, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the sale, the chief executive officer now owns 3,307,249 shares of the company’s stock, valued at $805,381,276.48. This trade represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,016 shares of company stock valued at $42,736,608 in the last quarter. 10.90% of the stock is currently owned by insiders.

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.