Spectrum Asset Management Inc. NB CA Has $555,000 Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Spectrum Asset Management Inc. NB CA lowered its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 42.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,538 shares of the software maker’s stock after selling 1,843 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Paycom Software were worth $555,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FMR LLC increased its position in Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock valued at $491,201,000 after purchasing an additional 1,388,533 shares during the period. Sylebra Capital LLC increased its position in shares of Paycom Software by 63.8% during 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. Arrowstreet Capital Limited Partnership raised its stake in Paycom Software by 1,153.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker’s stock worth $82,375,000 after buying an additional 369,825 shares during the last quarter. Raymond James Financial Inc. bought a new position in Paycom Software during the fourth quarter worth $63,923,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in Paycom Software in the fourth quarter valued at $60,882,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of recent analyst reports. Barclays increased their price target on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. KeyCorp raised their target price on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. BMO Capital Markets lifted their target price on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a report on Thursday, May 8th. Stifel Nicolaus raised their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and an average target price of $226.90.

Paycom Software Stock Performance

PAYC stock opened at $251.57 on Thursday. The business has a 50-day simple moving average of $238.25 and a two-hundred day simple moving average of $222.79. The company has a market capitalization of $14.55 billion, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $267.76.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.18. The company had revenue of $530.50 million for the quarter, compared to analysts’ expectations of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. Paycom Software’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.59 earnings per share. As a group, sell-side analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were paid a $0.375 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.60%. Paycom Software’s payout ratio is 21.40%.

Insider Activity

In other news, COO Randall Peck sold 890 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the transaction, the chief operating officer now directly owns 49,394 shares of the company’s stock, valued at $13,000,994.74. This represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Chad R. Richison sold 120,000 shares of Paycom Software 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 sale, the chief executive officer now 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 sold a total of 170,516 shares of company stock worth $42,361,668 over the last quarter. Insiders own 10.90% of the company’s stock.

Paycom Software Company 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.