Norden Group LLC Boosts Stake in Paycom Software, Inc. (NYSE:PAYC)

Norden Group LLC raised its position in Paycom Software, Inc. (NYSE:PAYC) by 13.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,220 shares of the software maker’s stock after buying an additional 385 shares during the period. Norden Group LLC’s holdings in Paycom Software were worth $641,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAYC. Mather Group LLC. acquired a new stake in shares of Paycom Software in the 1st quarter valued at about $26,000. Hexagon Capital Partners LLC raised its stake in shares of 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 purchasing an additional 100 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Paycom Software in the 4th quarter valued at about $41,000. SYSTM Wealth Solutions LLC raised its stake in shares of Paycom Software by 75.8% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 225 shares of the software maker’s stock valued at $45,000 after purchasing an additional 97 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Paycom Software in the 4th quarter valued at about $49,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $140.30 on Thursday. The company has a market cap of $8.15 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $374.04. The firm has a 50 day simple moving average of $155.96 and a 200 day simple moving average of $180.00.

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

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were given a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.50 annualized dividend and a dividend yield of 1.07%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Insider Activity at Paycom Software

In other Paycom Software news, EVP Amy Vickroy sold 1,381 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total value of $198,021.59. Following the completion of the sale, the executive vice president now owns 19,962 shares in the company, valued at approximately $2,862,351.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $180.82, for a total value of $352,599.00. Following the completion of the sale, the chief executive officer now owns 3,091,958 shares in the company, valued at approximately $559,087,845.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Amy Vickroy sold 1,381 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the sale, the executive vice president now owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,387 shares of company stock worth $5,653,933. 12.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PAYC. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. Citigroup dropped their price objective on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Barclays dropped their price objective on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. TD Cowen dropped their price target on shares of Paycom Software from $170.00 to $147.00 and set a “hold” rating on the stock in a research note on Thursday, June 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, May 2nd. Sixteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $237.81.

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.