Horizon Investments LLC Raises Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Horizon Investments LLC boosted its holdings in Paycom Software, Inc. (NYSE:PAYC) by 1,085.9% during the 4th quarter, Holdings Channel reports. The firm owned 7,827 shares of the software maker’s stock after acquiring an additional 7,167 shares during the period. Horizon Investments LLC’s holdings in Paycom Software were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PAYC. Brooklyn Investment Group purchased a new position in shares of Paycom Software in the 3rd quarter worth about $28,000. Pin Oak Investment Advisors Inc. raised its position in Paycom Software by 73.3% in the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares during the period. First Horizon Advisors Inc. boosted its stake in Paycom Software by 821.7% in the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after acquiring an additional 189 shares during the last quarter. IFP Advisors Inc grew its position in shares of Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after acquiring an additional 178 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Up 0.3 %

PAYC opened at $217.71 on Thursday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The firm has a 50 day moving average price of $209.87 and a 200-day moving average price of $200.65. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (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%. As a group, analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s dividend payout ratio is 16.85%.

Insiders Place Their Bets

In related news, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bradley Scott Smith sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the transaction, the insider now directly owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. This trade represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,100 shares of company stock worth $1,476,024. Company insiders own 14.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Piper Sandler upped their price target on Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Citigroup cut their target price 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. TD Cowen boosted their price target 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 cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.