Steward Partners Investment Advisory LLC Acquires 2,587 Shares of Paycom Software, Inc. (NYSE:PAYC)

Steward Partners Investment Advisory LLC grew its holdings in shares of Paycom Software, Inc. (NYSE:PAYCFree Report) by 651.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,984 shares of the software maker’s stock after acquiring an additional 2,587 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Paycom Software were worth $617,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PAYC. Hexagon Capital Partners LLC raised its stake in shares of Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Paycom Software by 83.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after acquiring an additional 71 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Paycom Software during the fourth quarter valued at $49,000. Headlands Technologies LLC bought a new position in shares of Paycom Software during the third quarter valued at $52,000. Finally, Operose Advisors LLC acquired a new stake in shares of Paycom Software during the third quarter worth $55,000. Institutional investors own 87.77% of the company’s stock.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $144.38 on Thursday. The stock has a market capitalization of $8.39 billion, a P/E ratio of 17.59, a P/E/G ratio of 2.26 and a beta of 1.17. The company has a 50-day moving average price of $181.46 and a 200-day moving average price of $188.12. Paycom Software, Inc. has a 1 year low of $143.88 and a 1 year high of $374.04.

Paycom Software (NYSE:PAYCGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The company had revenue of $499.88 million for the quarter, compared to analyst estimates of $495.89 million. As a group, equities research analysts anticipate that Paycom Software, Inc. will post 6.26 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s payout ratio is currently 18.27%.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $147.11, for a total transaction of $286,864.50. Following the transaction, the chief executive officer now directly owns 3,070,508 shares of the company’s stock, valued at $451,702,431.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 11,700 shares of company stock valued at $1,975,448 over the last ninety days. Corporate insiders own 14.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PAYC shares. Mizuho decreased their price objective on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. BMO Capital Markets decreased their price objective on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Citigroup decreased their price objective on shares of Paycom Software from $196.00 to $193.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Sixteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $246.31.

Get Our Latest Stock Analysis on PAYC

About Paycom Software

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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