Pilgrim Partners Asia Pte Ltd Invests $738,000 in Paycom Software, Inc. (NYSE:PAYC)

Pilgrim Partners Asia Pte Ltd acquired a new stake in Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, Holdings Channel reports. The firm acquired 3,600 shares of the software maker’s stock, valued at approximately $738,000. Paycom Software accounts for approximately 0.6% of Pilgrim Partners Asia Pte Ltd’s holdings, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in Paycom Software in the 4th quarter valued at about $30,000. IFP Advisors Inc boosted its position in Paycom Software by 635.7% during the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after acquiring an additional 178 shares during the last quarter. Blue Trust Inc. grew its stake in Paycom Software by 33.3% in the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after acquiring an additional 88 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Paycom Software in the 3rd quarter valued at $79,000. Finally, Huntington National Bank lifted its stake in shares of Paycom Software by 46.5% during the 4th quarter. Huntington National Bank now owns 551 shares of the software maker’s stock worth $113,000 after purchasing an additional 175 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Paycom Software

In other news, Director J C. Watts, Jr. sold 500 shares of the firm’s 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 completion of the sale, the director now owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the company’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 completion of the sale, the insider now directly owns 28,733 shares in the company, 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. Insiders sold a total of 7,100 shares of company stock worth $1,476,024 in the last 90 days. 12.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Stifel Nicolaus lowered their price target on Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a report on Thursday, February 13th. TD Cowen upped their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Mizuho lifted their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. Finally, StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus target price of $212.80.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $198.22 on Friday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The business has a 50-day moving average of $212.92 and a 200-day moving average of $204.93. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software’s dividend payout ratio is currently 16.85%.

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.