Atria Wealth Solutions Inc. Has $479,000 Stake in Paycom Software, Inc. (NYSE:PAYC)

Atria Wealth Solutions Inc. boosted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 61.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,192 shares of the software maker’s stock after purchasing an additional 837 shares during the period. Atria Wealth Solutions Inc.’s holdings in Paycom Software were worth $479,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PAYC. Baillie Gifford & Co. boosted its position in Paycom Software by 1,918.4% in the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock valued at $346,180,000 after buying an additional 1,505,990 shares during the last quarter. Sylebra Capital LLC boosted 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 buying an additional 1,252,617 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in Paycom Software in the 4th quarter valued at $60,882,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Paycom Software in the 4th quarter valued at $57,068,000. Finally, GAMMA Investing LLC boosted its position in Paycom Software by 33,661.7% in the 1st quarter. GAMMA Investing LLC now owns 197,506 shares of the software maker’s stock valued at $43,151,000 after buying an additional 196,921 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BMO Capital Markets increased their price objective on Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. Barclays increased their price objective on Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Piper Sandler raised their price target on Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Finally, Stifel Nicolaus raised their price target on Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $234.80.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the transaction, the insider directly owned 27,233 shares in the company, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total value of $234,256.90. Following the transaction, the chief operating officer owned 49,394 shares in the company, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,590 shares of company stock worth $6,761,837. Corporate insiders own 10.90% of the company’s stock.

Paycom Software Stock Up 2.9%

NYSE:PAYC opened at $221.50 on Thursday. Paycom Software, Inc. has a 12-month low of $153.08 and a 12-month high of $267.76. The firm has a market capitalization of $12.82 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.43 and a beta of 0.81. The stock’s fifty day simple moving average is $233.76 and its 200-day simple moving average is $227.26.

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

Paycom Software Announces Dividend

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 issued a dividend of $0.375 per share. The ex-dividend date is Monday, August 25th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software’s payout ratio is currently 20.30%.

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.