Horizon Investments LLC Acquires 7,167 Shares of Paycom Software, Inc. (NYSE:PAYC)

Horizon Investments LLC lifted its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 1,085.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,827 shares of the software maker's stock after purchasing an additional 7,167 shares during the period. Horizon Investments LLC's holdings in Paycom Software were worth $1,604,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Private Trust Co. NA raised its position in Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock worth $118,000 after acquiring an additional 49 shares during the period. Oppenheimer & Co. Inc. lifted its position in Paycom Software by 1.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock valued at $602,000 after purchasing an additional 51 shares in the last quarter. Wrapmanager Inc. grew its holdings in Paycom Software by 2.6% during the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker's stock valued at $362,000 after purchasing an additional 56 shares during the period. Michael S. Ryan Inc. grew its holdings in Paycom Software by 2.5% during the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker's stock valued at $573,000 after purchasing an additional 68 shares during the period. Finally, Valley National Advisers Inc. increased its position in Paycom Software by 0.7% in the fourth quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker's stock worth $2,192,000 after buying an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

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Paycom Software Stock Up 2.4 %

Paycom Software stock traded up $5.13 during midday trading on Monday, reaching $223.43. 580,339 shares of the stock traded hands, compared to its average volume of 709,452. The stock has a market cap of $12.79 billion, a P/E ratio of 25.10, a PEG ratio of 2.40 and a beta of 1.14. The stock's fifty day moving average is $210.52 and its 200-day moving average is $201.72. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates 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, equities analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a $0.375 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.67%. Paycom Software's dividend payout ratio (DPR) is presently 16.85%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PAYC. Stifel Nicolaus cut their price objective on Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their price target on shares of Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Piper Sandler raised their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Citigroup dropped their target price on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday, February 13th. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $212.80.

Insider Activity

In other news, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Randall Peck sold 3,600 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the completion of the sale, the chief operating officer now owns 50,665 shares of the company's stock, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,100 shares of company stock worth $1,476,024. 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.