Baader Bank Aktiengesellschaft Takes $2.20 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Baader Bank Aktiengesellschaft bought a new position in Paycom Software, Inc. (NYSE:PAYC) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 10,114 shares of the software maker’s stock, valued at approximately $2,204,000.

Other large investors have also recently modified their holdings of the company. Sylebra Capital LLC raised its holdings in shares of Paycom Software by 63.8% in the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker’s stock worth $658,996,000 after buying an additional 1,252,617 shares during the period. FMR LLC grew its position in Paycom Software by 137.8% in the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock valued at $491,201,000 after acquiring an additional 1,388,533 shares during the last quarter. Baillie Gifford & Co. grew its position in Paycom Software by 1,918.4% in the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock valued at $346,180,000 after acquiring an additional 1,505,990 shares during the last quarter. Geode Capital Management LLC increased its stake in Paycom Software by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker’s stock worth $310,245,000 after purchasing an additional 89,848 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Paycom Software by 10.9% during the fourth quarter. Northern Trust Corp now owns 724,016 shares of the software maker’s stock worth $148,402,000 after purchasing an additional 70,897 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Insiders Place Their Bets

In other news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total transaction of $374,940.00. Following the completion of the sale, the insider directly owned 27,233 shares in the company, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 23,200 shares of the business’s stock in a transaction on 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 sale, the chief executive officer directly owned 3,224,049 shares in the company, valued at $855,017,794.80. This trade represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,016 shares of company stock valued at $42,736,608. Insiders own 10.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of research analyst reports. Piper Sandler raised their price target on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Barclays upped their target price on shares of Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. KeyCorp boosted their price target on Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus raised their price objective on 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’s stock. According to data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and a consensus target price of $226.90.

Paycom Software Stock Up 0.5%

NYSE:PAYC opened at $237.62 on Wednesday. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.60 and a beta of 0.77. Paycom Software, Inc. has a 52 week low of $152.46 and a 52 week high of $267.76. The firm has a 50 day moving average of $241.14 and a 200 day moving average of $225.88.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share 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 firm had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. During the same quarter last year, the firm earned $2.59 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts expect that Paycom Software, Inc. will post 7.15 EPS 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 $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software’s dividend payout ratio (DPR) is presently 21.40%.

Paycom Software 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.