Victory Capital Management Inc. Increases Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Victory Capital Management Inc. boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,078 shares of the software maker’s stock after purchasing an additional 450 shares during the quarter. Victory Capital Management Inc.’s holdings in Paycom Software were worth $1,656,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several brokerages have issued reports on PAYC. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Citigroup decreased their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. TD Cowen lifted their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Stifel Nicolaus decreased their price target on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Finally, Barclays decreased 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 note on Thursday, January 23rd. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus target price of $212.80.

Paycom Software Stock Up 0.5 %

Shares of PAYC stock opened at $217.04 on Wednesday. The firm has a market cap of $12.43 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.40 and a beta of 1.14. The company’s 50 day moving average is $209.51 and its 200 day moving average is $200.53. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software (NYSE:PAYC) last released its quarterly 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%. Analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s dividend payout ratio is currently 16.85%.

Insiders Place Their Bets

In related news, COO Randall Peck sold 3,600 shares of the business’s stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the transaction, the insider now owns 28,733 shares of the company’s stock, valued at $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,100 shares of company stock valued at $1,476,024. 14.50% of the stock is currently owned by 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.