Lifestyle Asset Management Inc. Buys Shares of 1,209 Paycom Software, Inc. (NYSE:PAYC)

Lifestyle Asset Management Inc. purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,209 shares of the software maker’s stock, valued at approximately $241,000.

Several other large investors have also modified their holdings of PAYC. International Assets Investment Management LLC grew its holdings in Paycom Software by 16,173.6% during the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock valued at $162,855,000 after buying an additional 782,962 shares during the last quarter. ValueAct Holdings L.P. purchased a new stake in Paycom Software during the 4th quarter worth about $125,686,000. Boston Trust Walden Corp acquired a new position in Paycom Software in the 4th quarter valued at about $48,865,000. American Century Companies Inc. raised its stake in Paycom Software by 18.8% in the 3rd quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock valued at $295,441,000 after purchasing an additional 180,202 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Paycom Software by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after purchasing an additional 137,583 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the completion of the sale, the chief executive officer now owns 3,090,008 shares in the company, valued at approximately $555,521,638.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $179.78, for a total value of $350,571.00. Following the sale, the chief executive officer now directly owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason D. Clark sold 906 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $143.61, for a total transaction of $130,110.66. Following the transaction, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The disclosure for this sale can be found here. Insiders have sold 31,537 shares of company stock worth $4,823,818 in the last quarter. 12.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PAYC has been the subject of a number of recent research reports. TD Cowen lowered their price target on shares of Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a report on Thursday, June 20th. Mizuho cut their price target on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Citigroup decreased their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. BMO Capital Markets dropped their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Finally, StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. Sixteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $237.81.

Paycom Software Stock Up 0.5 %

Shares of NYSE PAYC traded up $0.78 on Wednesday, hitting $142.95. The company had a trading volume of 458,011 shares, compared to its average volume of 861,195. Paycom Software, Inc. has a 12-month low of $139.69 and a 12-month high of $374.04. The firm has a market capitalization of $8.31 billion, a P/E ratio of 17.41, a PEG ratio of 2.17 and a beta of 1.16. The business has a 50 day moving average of $160.70 and a two-hundred day moving average of $182.25.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, topping the consensus estimate of $1.96 by $2.29. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The firm had revenue of $499.88 million for the quarter, compared to analyst estimates of $495.89 million. On average, sell-side analysts anticipate that Paycom Software, Inc. will post 6.37 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Friday, May 24th. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

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.