Asahi Life Asset Management CO. LTD. Invests $336,000 in Paycom Software, Inc. (NYSE:PAYC)

Asahi Life Asset Management CO. LTD. bought a new stake in Paycom Software, Inc. (NYSE:PAYC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,540 shares of the software maker’s stock, valued at approximately $336,000.

Several other hedge funds also recently made changes to their positions in PAYC. Apollon Wealth Management LLC grew its holdings in Paycom Software by 8.8% in the first quarter. Apollon Wealth Management LLC now owns 5,960 shares of the software maker’s stock worth $1,302,000 after purchasing an additional 483 shares during the period. CWM LLC boosted its stake in Paycom Software by 3.3% in the 1st quarter. CWM LLC now owns 2,081 shares of the software maker’s stock worth $455,000 after purchasing an additional 66 shares in the last quarter. Xponance Inc. grew its position in Paycom Software by 0.9% during the 1st quarter. Xponance Inc. now owns 9,701 shares of the software maker’s stock valued at $2,119,000 after purchasing an additional 86 shares during the last quarter. Correct Capital Wealth Management increased its stake in Paycom Software by 5.0% during the 1st quarter. Correct Capital Wealth Management now owns 2,744 shares of the software maker’s stock valued at $600,000 after purchasing an additional 130 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Paycom Software by 12.9% in the first quarter. Allworth Financial LP now owns 464 shares of the software maker’s stock worth $105,000 after buying an additional 53 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 23,200 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the completion of the transaction, the chief executive officer owned 3,224,049 shares of the company’s stock, valued at $855,017,794.80. This represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Randall Peck sold 890 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the sale, the chief operating officer owned 49,394 shares in the company, valued at $13,000,994.74. This represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,016 shares of company stock worth $42,736,608. Insiders own 10.90% of the company’s stock.

Paycom Software Stock Down 4.0%

Shares of Paycom Software stock opened at $220.15 on Monday. The company has a market capitalization of $12.74 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 2.43 and a beta of 0.77. The stock’s 50-day simple moving average is $245.69 and its 200-day simple moving average is $223.62. Paycom Software, Inc. has a 52 week low of $148.22 and a 52 week high of $267.76.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The company had revenue of $530.50 million for the quarter, compared to analysts’ expectations of $522.92 million. During the same period in the previous year, the firm earned $2.59 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.68%. Paycom Software’s payout ratio is 21.40%.

Analysts Set New Price Targets

Several research firms recently commented on PAYC. Barclays increased their price objective on Paycom Software from $221.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, May 8th. Piper Sandler increased their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. BMO Capital Markets lifted their price objective on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus raised their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $226.90.

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.