Virtu Financial LLC Takes $1.93 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Virtu Financial LLC acquired a new stake in Paycom Software, Inc. (NYSE:PAYC) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 9,414 shares of the software maker’s stock, valued at approximately $1,929,000.

A number of other institutional investors also recently modified their holdings of PAYC. Empowered Funds LLC lifted its position in shares of Paycom Software by 20.6% during the 3rd quarter. Empowered Funds LLC now owns 2,522 shares of the software maker’s stock valued at $420,000 after acquiring an additional 430 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Paycom Software by 71.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,497 shares of the software maker’s stock valued at $583,000 after acquiring an additional 1,462 shares during the period. Prospera Financial Services Inc acquired a new position in shares of Paycom Software during the 3rd quarter valued at $282,000. First Horizon Advisors Inc. lifted its position in shares of Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after acquiring an additional 189 shares during the period. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Paycom Software during the 3rd quarter valued at $232,000. 87.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the transaction, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the sale, the director now directly owns 7,730 shares in the company, valued at approximately $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock worth $1,476,024 over the last quarter. 14.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PAYC has been the topic of a number of research reports. Mizuho boosted their target price on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Barclays dropped their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Stifel Nicolaus lowered their price objective on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. TD Cowen upped their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Finally, Piper Sandler upped their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $212.80.

Paycom Software Price Performance

NYSE PAYC opened at $218.74 on Friday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 2.40 and a beta of 1.14. The company has a fifty day moving average price of $210.52 and a 200-day moving average price of $201.43.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. On average, research analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. Paycom Software’s dividend payout ratio is presently 16.85%.

About Paycom Software

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.