Phillips Wealth Planners LLC Acquires 157 Shares of Paycom Software, Inc. (NYSE:PAYC)

Phillips Wealth Planners LLC grew its holdings in Paycom Software, Inc. (NYSE:PAYC) by 13.5% in the 1st quarter, HoldingsChannel reports. The firm owned 1,321 shares of the software maker’s stock after buying an additional 157 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Paycom Software were worth $285,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. New World Advisors LLC raised its holdings in shares of Paycom Software by 16.8% in the 1st quarter. New World Advisors LLC now owns 1,267 shares of the software maker’s stock valued at $277,000 after purchasing an additional 182 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock worth $30,000 after acquiring an additional 73 shares in the last quarter. Spire Wealth Management lifted its position in Paycom Software by 183.3% during the first quarter. Spire Wealth Management now owns 1,810 shares of the software maker’s stock valued at $396,000 after acquiring an additional 1,171 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Paycom Software by 5.9% during the first quarter. Asset Management One Co. Ltd. now owns 21,430 shares of the software maker’s stock valued at $4,682,000 after acquiring an additional 1,190 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Paycom Software by 149.5% in the first quarter. Oppenheimer & Co. Inc. now owns 7,334 shares of the software maker’s stock worth $1,602,000 after purchasing an additional 4,395 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Insider Activity

In related news, COO Randall Peck sold 890 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the sale, the chief operating officer now directly owns 49,394 shares of the company’s stock, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Chad R. Richison sold 120,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the sale, the chief executive officer now directly owns 3,307,249 shares in the company, valued at $805,381,276.48. This trade represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,016 shares of company stock valued at $42,736,608 in the last ninety days. Insiders own 10.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PAYC shares. BMO Capital Markets upped their price target on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a research report on Thursday, May 8th. Piper Sandler upped their price target on Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. KeyCorp upped their price target on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Barclays upped their price target on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Finally, Wall Street Zen downgraded Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and an average target price of $226.90.

Paycom Software Trading Down 5.2%

NYSE:PAYC opened at $222.74 on Thursday. The company has a market cap of $12.89 billion, a PE ratio of 31.77, a P/E/G ratio of 2.59 and a beta of 0.81. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $267.76. The company’s 50 day moving average is $243.56 and its two-hundred day moving average is $223.04.

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

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Tuesday, May 27th. Paycom Software’s dividend payout ratio (DPR) is currently 21.40%.

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.