Park Avenue Securities LLC Has $909,000 Stake in Paycom Software, Inc. (NYSE:PAYC)

Park Avenue Securities LLC lifted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 15.5% during the first quarter, Holdings Channel.com reports. The firm owned 4,568 shares of the software maker’s stock after purchasing an additional 613 shares during the period. Park Avenue Securities LLC’s holdings in Paycom Software were worth $909,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Mather Group LLC. purchased a new stake in Paycom Software in the 1st quarter valued at $26,000. Hexagon Capital Partners LLC raised its position in Paycom Software by 333.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its position in Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after buying an additional 71 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in Paycom Software in the 4th quarter valued at $41,000. Finally, GAMMA Investing LLC purchased a new stake in Paycom Software in the 4th quarter valued at $49,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PAYC. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Citigroup reduced their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. TD Cowen reduced their price objective on Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a research note on Thursday, June 20th. Jefferies Financial Group reduced their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Sixteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Paycom Software presently has an average rating of “Hold” and a consensus price target of $237.81.

Paycom Software Stock Down 0.4 %

Shares of NYSE PAYC opened at $140.93 on Thursday. Paycom Software, Inc. has a 52 week low of $139.69 and a 52 week high of $374.04. The business has a 50-day simple moving average of $165.07 and a two-hundred day simple moving average of $184.15. The company has a market cap of $8.19 billion, a P/E ratio of 17.17, a P/E/G ratio of 2.15 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, topping the consensus estimate of $1.96 by $2.29. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The business had revenue of $499.88 million during the quarter, compared to the consensus estimate of $495.89 million. Equities research analysts anticipate that Paycom Software, Inc. will post 6.37 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th were issued a $0.375 dividend. The ex-dividend date was Friday, May 24th. This represents a $1.50 annualized dividend and a dividend yield of 1.06%. Paycom Software’s payout ratio is currently 18.27%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, insider Jason D. Clark sold 906 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $143.61, for a total value of $130,110.66. Following the sale, the insider now owns 43,367 shares of the company’s stock, valued at approximately $6,227,934.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Jason D. Clark sold 906 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $143.61, for a total transaction of $130,110.66. Following the transaction, the insider now directly owns 43,367 shares of the company’s stock, valued at approximately $6,227,934.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Amy Vickroy sold 1,381 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total value of $198,021.59. Following the transaction, the executive vice president now directly owns 19,962 shares in the company, valued at $2,862,351.18. The disclosure for this sale can be found here. Insiders have sold a total of 25,687 shares of company stock valued at $3,995,263 in the last 90 days. Corporate insiders own 14.50% of the company’s stock.

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.