Proficio Capital Partners LLC Invests $7.14 Million in Paycom Software, Inc. (NYSE:PAYC)

Proficio Capital Partners LLC acquired a new position in Paycom Software, Inc. (NYSE:PAYC) in the fourth quarter, HoldingsChannel reports. The firm acquired 34,845 shares of the software maker’s stock, valued at approximately $7,142,000.

A number of other hedge funds have also recently made changes to their positions in the business. Private Trust Co. NA lifted its holdings in shares of Paycom Software by 9.3% in the 4th 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 last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Paycom Software by 1.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock worth $602,000 after buying an additional 51 shares during the period. Wrapmanager Inc. increased its stake in shares of Paycom Software by 2.6% in the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after buying an additional 56 shares during the period. Michael S. Ryan Inc. increased its stake in shares of Paycom Software by 2.5% in the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock worth $573,000 after buying an additional 68 shares during the period. Finally, Valley National Advisers Inc. increased its stake in shares of 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 during the period. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several analyst reports. Piper Sandler lifted their target price on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Mizuho boosted their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. TD Cowen boosted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Barclays reduced their price objective on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $212.80.

Paycom Software Price Performance

PAYC stock opened at $208.08 on Monday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The business has a fifty day moving average price of $209.04 and a 200-day moving average price of $199.78. The stock has a market capitalization of $11.92 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. As a group, analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s dividend payout ratio is currently 16.85%.

Insider Transactions at Paycom Software

In related news, COO Randall Peck sold 3,600 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the sale, the director now owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.50% 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.