Allspring Global Investments Holdings LLC increased its holdings in Paycom Software, Inc. (NYSE:PAYC – Free Report) by 3.4% in the first quarter, according to the fund’s most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,544 shares of the software maker after buying an additional 217 shares during the quarter. Allspring Global Investments Holdings LLC’s shares of Paycom Software were worth $1,302,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company recently. Congress Wealth Management LLC DE increased its position in Paycom Software by 22.5% in the first quarter. Congress Wealth Management LLC DE now owns 62,702 shares of the software maker’s stock worth $12,478,000 after purchasing an additional 11,517 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in Paycom Software in the first quarter worth $203,000. Optas LLC increased its position in Paycom Software by 6.1% in the first quarter. Optas LLC now owns 1,059 shares of the software maker’s stock worth $211,000 after purchasing an additional 61 shares in the last quarter. Sendero Wealth Management LLC increased its position in Paycom Software by 431.5% in the first quarter. Sendero Wealth Management LLC now owns 40,074 shares of the software maker’s stock worth $7,975,000 after purchasing an additional 32,534 shares during the last quarter. Finally, 180 Wealth Advisors LLC acquired a new position in Paycom Software during the first quarter worth $276,000. 87.77% of the shares are held by institutional investors and hedge funds.
Analysts set new price targets
Several equities research analysts have recently issued reports on PAYC stock. JPMorgan Chase & Co. raised their price target on Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Barclays lowered their price target on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. BMO Capital Markets lowered their price target on Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. TD Cowen lowered their price target on Paycom Software from $170.00 to $147.00 and set a “hold” rating on the stock in a research report on Thursday, June 20th. Finally, Needham & Company LLC affirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Sixteen equities analysts have rated the stock with a “hold” rating and four have given the company a “buy” rating. Paycom Software has an average rating of “Hold” and a consensus target price of $237.81, according to MarketBeat.
View our latest research report on PAYC
Insider Activity at Paycom Software
In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, May 20. The shares were sold at an average price of $179.78, for a total value of $350,571.00. Following the sale, the CEO now directly owns 3,090,008 shares of the company’s stock, valued at approximately $555,521,638.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink. In other Paycom Software news, EVP Amy Vickroy sold 1,381 shares of the company’s stock in a transaction dated Tuesday, June 11. The shares were sold at an average price of $143.39, for a total transaction of $198,021.59. Following the sale, the executive vice president now directly owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this link . Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, May 20. The shares were sold at an average price of $179.78, for a total transaction of $350,571.00. Following the sale, the chief executive officer now directly owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The disclosure for this sale can be found here . In the last ninety days, insiders have sold 33,487 shares of the company’s stock valued at $5,103,253. 12.60% of the shares are held by company insiders.
Paycom Software shares down 0.8%
Shares of NYSE PAYC opened at $141.99 on Friday. The company’s 50-day moving average is $158.89 and its 200-day moving average is $181.55. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 17.29, a forward price-to-earnings ratio of 2.17, and a beta of 1.16. Paycom Software, Inc. has a 12-month low of $139.69 and a 12-month high of $374.04.
Paycom Software (NYSE:PAYC – Get Free Report) last announced its quarterly results on Wednesday, May 1. The software maker reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $2.29. The company had revenue of $499.88 million for the quarter, compared to analysts’ expectations of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. On average, analysts expect Paycom Software, Inc. to post 6.37 EPS for the current fiscal year.
Paycom Software Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th were paid a dividend of $0.375 per share. The ex-dividend date was Friday, May 24th. This represents an annualized dividend of $1.50 and a dividend yield of 1.06%. Paycom Software’s dividend payout ratio is 18.27%.
Paycom Software Profile
(Free Report)
Paycom Software, Inc. provides cloud-based human capital management (HCM) solutions delivered as software-as-a-service to small to mid-sized businesses in the United States. It offers the functionality and data analytics that businesses need to manage the employment lifecycle, from hiring to retirement.
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