Rafferty Asset Management LLC Has $1.59 Million Holdings in Paycom Software, Inc. (NYSE:PAYC)

Rafferty Asset Management LLC grew its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 14.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,767 shares of the software maker’s stock after buying an additional 955 shares during the quarter. Rafferty Asset Management LLC’s holdings in Paycom Software were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Glass Jacobson Investment Advisors llc grew its stake in shares of Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock valued at $26,000 after buying an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Paycom Software in the 4th quarter valued at approximately $30,000. IFP Advisors Inc grew its stake in shares of Paycom Software by 635.7% in the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after buying an additional 178 shares in the last quarter. Parvin Asset Management LLC bought a new stake in shares of Paycom Software in the 4th quarter valued at approximately $61,000. Finally, Blue Trust Inc. grew its stake in shares of Paycom Software by 33.3% in the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock valued at $72,000 after buying an additional 88 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Trading Up 0.1%

PAYC opened at $260.22 on Wednesday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $264.92. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 2.40 and a beta of 0.80. The business has a 50 day moving average of $224.74 and a 200-day moving average of $218.83.

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, beating the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The company had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. During the same period in the prior year, the business earned $2.59 earnings per share. Paycom Software’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be given a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.58%. Paycom Software’s dividend payout ratio is 21.40%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Stifel Nicolaus boosted their price target on Paycom Software from $187.00 to $215.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. BMO Capital Markets upped their target price 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. KeyCorp upped their target price on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, Barclays upped their target price 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. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Paycom Software presently has an average rating of “Hold” and an average price target of $226.90.

Insider Activity

In related news, CEO Chad R. Richison sold 120,000 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the completion of the transaction, the chief executive officer now directly owns 3,307,249 shares in the company, valued at approximately $805,381,276.48. This represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the transaction, the director now owns 7,730 shares of the company’s stock, valued at $1,686,840.60. The trade was a 6.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,526 shares of company stock valued at $37,450,796. 10.90% of the stock is owned by company insiders.

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.