Plan Group Financial LLC Acquires Shares of 1,322 Paycom Software, Inc. (NYSE:PAYC)

Plan Group Financial LLC bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 1,322 shares of the software maker’s stock, valued at approximately $289,000.

Several other large investors have also made changes to their positions in the business. Kingsview Wealth Management LLC grew its stake in Paycom Software by 8.4% in the 1st quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker’s stock valued at $323,000 after acquiring an additional 114 shares during the period. SG Americas Securities LLC lifted its holdings in Paycom Software by 57.1% during the first quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker’s stock valued at $587,000 after purchasing an additional 976 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Paycom Software by 54.5% in the first quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock valued at $198,000 after purchasing an additional 319 shares during the period. Rhumbline Advisers grew its position in shares of Paycom Software by 11.9% in the first quarter. Rhumbline Advisers now owns 102,936 shares of the software maker’s stock valued at $22,489,000 after purchasing an additional 10,908 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in shares of Paycom Software by 15.6% during the first quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker’s stock worth $220,000 after purchasing an additional 136 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PAYC shares. BMO Capital Markets lifted their price objective on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a report on Thursday, May 8th. Barclays raised their price objective on Paycom Software from $221.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. KeyCorp upped their target price on shares of Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Piper Sandler increased their target price on shares of Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, Stifel Nicolaus boosted their price target on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software presently has a consensus rating of “Hold” and a consensus target price of $226.90.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 23,200 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total value of $6,152,640.00. Following the sale, the chief executive officer directly owned 3,224,049 shares in the company, valued at approximately $855,017,794.80. The trade was a 0.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $374,940.00. Following the completion of the transaction, the insider directly owned 27,233 shares in the company, valued at $6,807,160.68. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,016 shares of company stock worth $42,736,608 over the last quarter. 10.90% of the stock is currently owned by company insiders.

Paycom Software Trading Up 1.3%

Shares of PAYC opened at $229.46 on Tuesday. Paycom Software, Inc. has a 12-month low of $152.46 and a 12-month high of $267.76. The firm has a market capitalization of $13.27 billion, a P/E ratio of 32.73, a P/E/G ratio of 2.49 and a beta of 0.81. The firm has a 50-day moving average price of $239.49 and a 200 day moving average price of $226.60.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.59 EPS. Equities research analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 25th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. Paycom Software’s dividend payout ratio is currently 21.40%.

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.