LPL Financial LLC Has $15.19 Million Position in Paycom Software, Inc. (NYSE:PAYC)

LPL Financial LLC lifted its stake in Paycom Software, Inc. (NYSE:PAYC) by 30.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,509 shares of the software maker’s stock after purchasing an additional 16,383 shares during the period. LPL Financial LLC owned 0.12% of Paycom Software worth $15,186,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sylebra Capital LLC increased its position in Paycom Software by 63.8% in the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker’s stock valued at $658,996,000 after acquiring an additional 1,252,617 shares during the period. FMR LLC raised its position in shares of Paycom Software by 137.8% in the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock valued at $491,201,000 after purchasing an additional 1,388,533 shares during the period. Baillie Gifford & Co. increased its holdings in Paycom Software by 1,918.4% during the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock worth $346,180,000 after acquiring an additional 1,505,990 shares during the period. Northern Trust Corp grew its stake in Paycom Software by 10.9% in the 4th quarter. Northern Trust Corp now owns 724,016 shares of the software maker’s stock worth $148,402,000 after buying an additional 70,897 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Paycom Software by 30.7% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 363,949 shares of the software maker’s stock valued at $79,516,000 after purchasing an additional 85,526 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. BMO Capital Markets increased their price target on shares of Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a research note on Thursday, May 8th. KeyCorp raised their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Piper Sandler raised their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Barclays raised their price target on shares of Paycom Software from $221.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $226.90.

Paycom Software Trading Up 0.1%

NYSE:PAYC opened at $223.42 on Thursday. The firm has a market cap of $12.93 billion, a P/E ratio of 31.87, a PEG ratio of 2.46 and a beta of 0.81. The stock’s 50 day simple moving average is $237.44 and its 200-day simple moving average is $226.70. Paycom Software, Inc. has a 12-month low of $152.46 and a 12-month high of $267.76.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.28. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The company had revenue of $483.60 million for the quarter, compared to the consensus estimate of $472.00 million. During the same period in the previous year, the business earned $1.62 earnings per share. Paycom Software’s quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be paid a $0.375 dividend. The ex-dividend date is Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software’s dividend payout ratio (DPR) is 21.40%.

Insider Activity

In other Paycom Software news, CEO Chad R. Richison sold 23,200 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the completion of the sale, the chief executive officer owned 3,224,049 shares in the company, valued at $855,017,794.80. This trade represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the transaction, the insider directly owned 27,233 shares in the company, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,016 shares of company stock worth $13,514,208. 10.90% of the stock is currently owned by corporate 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.