Swiss National Bank Buys 400 Shares of Paycom Software, Inc. (NYSE:PAYC)

Swiss National Bank grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 0.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 146,400 shares of the software maker’s stock after acquiring an additional 400 shares during the period. Swiss National Bank’s holdings in Paycom Software were worth $31,985,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Deutsche Bank AG raised its stake in shares of Paycom Software by 11.2% during the first quarter. Deutsche Bank AG now owns 246,067 shares of the software maker’s stock valued at $53,761,000 after acquiring an additional 24,838 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Paycom Software by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 502,345 shares of the software maker’s stock valued at $109,752,000 after buying an additional 4,272 shares during the period. ASR Vermogensbeheer N.V. purchased a new position in Paycom Software during the first quarter valued at approximately $432,000. Citizens Financial Group Inc. RI increased its holdings in Paycom Software by 5.1% during the first quarter. Citizens Financial Group Inc. RI now owns 1,881 shares of the software maker’s stock valued at $411,000 after buying an additional 92 shares during the period. Finally, Associated Banc Corp increased its holdings in Paycom Software by 5.2% during the first quarter. Associated Banc Corp now owns 151,932 shares of the software maker’s stock valued at $33,194,000 after buying an additional 7,455 shares during the period. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th. Barclays lifted their price objective on shares of Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. Finally, KeyCorp lifted their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $234.80.

Paycom Software Trading Down 3.9%

NYSE PAYC opened at $221.00 on Tuesday. The firm’s fifty day simple moving average is $235.62 and its two-hundred day simple moving average is $227.39. 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 $12.78 billion, a P/E ratio of 29.90, a P/E/G ratio of 2.60 and a beta of 0.81.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The business had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. During the same period in the previous year, the company earned $1.62 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, sell-side analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software’s payout ratio is 20.30%.

Insider Activity

In other news, CEO Chad R. Richison sold 23,200 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the sale, the chief executive officer directly owned 3,224,049 shares of the company’s stock, valued at $855,017,794.80. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total transaction of $374,940.00. Following the sale, the insider directly owned 27,233 shares in the company, valued at $6,807,160.68. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,590 shares of company stock valued at $6,761,837 over the last ninety days. 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.