SteelPeak Wealth LLC Purchases New Stake in Paycom Software, Inc. (NYSE:PAYC)

SteelPeak Wealth LLC acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,019 shares of the software maker’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mather Group LLC. bought a new stake in shares of Paycom Software during the first quarter worth approximately $26,000. Hexagon Capital Partners LLC increased its position in Paycom Software by 333.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after buying an additional 100 shares during the period. Transcendent Capital Group LLC bought a new stake in shares of Paycom Software in the fourth quarter valued at about $41,000. GAMMA Investing LLC acquired a new position in shares of Paycom Software in the fourth quarter valued at about $49,000. Finally, Quest Partners LLC bought a new position in shares of Paycom Software during the fourth quarter worth approximately $56,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Trading Up 0.9 %

Shares of PAYC stock opened at $143.04 on Monday. The stock has a 50-day moving average of $163.40 and a 200-day moving average of $183.39. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 2.17 and a beta of 1.16. Paycom Software, Inc. has a 1-year low of $139.69 and a 1-year high of $374.04.

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

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, May 24th. Paycom Software’s payout ratio is 18.27%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. William Blair reissued a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. Barclays cut their price objective on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Citigroup cut their price objective on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Finally, TD Cowen cut their price objective on shares of Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a research report on Thursday, June 20th. Sixteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $237.81.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction 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 of the company’s stock, valued at approximately $559,087,845.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $180.82, for a total value of $352,599.00. Following the transaction, the chief executive officer now owns 3,091,958 shares in the company, valued at $559,087,845.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason D. Clark sold 906 shares of the company’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold 27,637 shares of company stock valued at $4,269,160 in the last three months. Corporate insiders own 12.60% of the company’s stock.

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.