Raymond James Financial Inc. Acquires New Holdings in Paycom Software, Inc. (NYSE:PAYC)

Raymond James Financial Inc. purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 311,865 shares of the software maker's stock, valued at approximately $63,923,000. Raymond James Financial Inc. owned approximately 0.54% of Paycom Software as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in PAYC. Sylebra Capital LLC boosted its position in shares of Paycom Software by 0.3% in the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker's stock worth $326,888,000 after acquiring an additional 5,000 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Paycom Software by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker's stock worth $237,015,000 after buying an additional 45,404 shares during the last quarter. FMR LLC raised its holdings in Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock valued at $167,889,000 after acquiring an additional 357,723 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Paycom Software by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker's stock valued at $104,524,000 after acquiring an additional 6,488 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Paycom Software by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock worth $102,090,000 after acquiring an additional 11,611 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

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Paycom Software Trading Up 2.6 %

Shares of NYSE:PAYC traded up $5.26 during trading on Friday, hitting $208.08. 410,843 shares of the company were exchanged, compared to its average volume of 705,295. The stock has a market cap of $11.92 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of 2.40 and a beta of 1.14. The firm has a fifty day moving average price of $208.95 and a two-hundred day moving average price of $198.97. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. As a group, research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Monday, March 10th. Paycom Software's dividend payout ratio is currently 16.85%.

Insider Transactions at Paycom Software

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PAYC shares. JPMorgan Chase & Co. upped their price objective on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Citigroup lowered their price target on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday, February 13th. StockNews.com downgraded Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus dropped their target price on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a research report on Thursday, February 13th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $212.80.

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.