Avory & Company LLC Increases Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Avory & Company LLC raised its holdings in Paycom Software, Inc. (NYSE:PAYC) by 0.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,939 shares of the software maker’s stock after acquiring an additional 162 shares during the quarter. Paycom Software makes up 4.5% of Avory & Company LLC’s holdings, making the stock its 9th largest holding. Avory & Company LLC’s holdings in Paycom Software were worth $7,981,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Paycom Software in the 4th quarter valued at $63,923,000. Arizona State Retirement System lifted its holdings in shares of Paycom Software by 2.9% in the 4th quarter. Arizona State Retirement System now owns 15,013 shares of the software maker’s stock worth $3,077,000 after buying an additional 429 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Paycom Software in the 4th quarter worth $7,142,000. Victory Capital Management Inc. lifted its holdings in shares of Paycom Software by 5.9% in the 4th quarter. Victory Capital Management Inc. now owns 8,078 shares of the software maker’s stock worth $1,656,000 after buying an additional 450 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Paycom Software by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker’s stock worth $102,090,000 after buying an additional 11,611 shares during the period. Institutional investors own 87.77% of the company’s stock.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $217.59 on Thursday. The business’s 50-day moving average is $208.59 and its 200 day moving average is $197.23. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The firm has a market capitalization of $12.46 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.40 and a beta of 1.15.

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

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.69%. The ex-dividend date is Monday, March 10th. Paycom Software’s dividend payout ratio is currently 16.85%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PAYC. Stifel Nicolaus lowered their target price on Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Piper Sandler upped their target price on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. TD Cowen upped their price objective on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. Twelve investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $209.22.

Insider Activity at Paycom Software

In other news, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $218.22, for a total value of $109,110.00. Following the transaction, the director now directly owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Randall Peck sold 3,600 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at $10,750,606.35. This represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.50% of the stock is currently owned by corporate insiders.

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.