Proficio Capital Partners LLC Makes New $7.14 Million Investment in Paycom Software, Inc. (NYSE:PAYC)

Proficio Capital Partners LLC acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,845 shares of the software maker’s stock, valued at approximately $7,142,000. Proficio Capital Partners LLC owned about 0.06% of Paycom Software at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PAYC. Brooklyn Investment Group purchased a new stake in shares of Paycom Software in the third quarter valued at about $28,000. Pin Oak Investment Advisors Inc. raised its holdings in shares of Paycom Software by 73.3% in the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after purchasing an additional 77 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Paycom Software by 821.7% in the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after purchasing an additional 178 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Paycom Software by 33.3% in the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock valued at $72,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Piper Sandler increased their price target on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Barclays reduced their price target on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Mizuho increased their price target 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. Finally, KeyCorp upgraded shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price target for the company in a research report on Monday, March 10th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and an average target price of $212.80.

Paycom Software Trading Up 2.6 %

Shares of NYSE:PAYC opened at $208.08 on Monday. The company has a 50 day moving average of $209.04 and a 200 day moving average of $199.78. The stock has a market cap of $11.92 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating 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, equities analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.72%. Paycom Software’s dividend payout ratio is currently 16.85%.

Insider Activity at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares in the company, valued at $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the sale, the director now owns 7,730 shares of the company’s stock, 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. 14.50% of the stock is owned by corporate insiders.

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.