Mirae Asset Global Investments Co. Ltd. Has $1.77 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Paycom Software, Inc. (NYSE:PAYC) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,111 shares of the software maker’s stock after purchasing an additional 298 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Paycom Software were worth $1,774,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Glass Jacobson Investment Advisors llc boosted its holdings in shares of Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock valued at $26,000 after purchasing an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Paycom Software in the 4th quarter valued at $30,000. Golden State Wealth Management LLC boosted its holdings in shares of Paycom Software by 112.3% in the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock valued at $33,000 after purchasing an additional 87 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Paycom Software in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Up 2.1%

Shares of NYSE:PAYC opened at $232.86 on Friday. The firm has a market cap of $13.47 billion, a P/E ratio of 33.22, a P/E/G ratio of 2.51 and a beta of 0.77. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $267.76. The business has a fifty day simple moving average of $245.21 and a 200 day simple moving average of $222.77.

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, topping the consensus estimate of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. Paycom Software’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $2.59 EPS. As a group, equities research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software’s dividend payout ratio (DPR) is presently 21.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PAYC shares. KeyCorp raised their target price on Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Barclays raised their price objective on Paycom Software from $221.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Piper Sandler raised their price objective on Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. BMO Capital Markets raised their price objective on Paycom Software from $215.00 to $244.00 and gave the company a “market perform” rating in a report on Thursday, May 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $226.90.

Insider Transactions at Paycom Software

In other news, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction dated 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 directly owned 49,394 shares of the company’s stock, valued at approximately $13,000,994.74. This trade represents a 1.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 3,307,249 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders sold 172,016 shares of company stock valued at $42,736,608. Corporate insiders own 10.90% of the company’s stock.

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.