Proficio Capital Partners LLC Makes New Investment in Paycom Software, Inc. (NYSE:PAYC)

Proficio Capital Partners LLC purchased a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 34,845 shares of the software maker’s stock, valued at approximately $7,142,000.

Other large investors have also recently modified their holdings of the company. Sylebra Capital LLC lifted its holdings in shares of Paycom Software by 0.3% during the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock valued at $326,888,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in Paycom Software by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock valued at $237,015,000 after acquiring an additional 45,404 shares during the period. FMR LLC lifted its stake in Paycom Software by 55.0% during the 3rd 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 during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of 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 stake in shares of Paycom Software by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock worth $81,030,000 after acquiring an additional 151,807 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup lowered their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Mizuho boosted their price target on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. TD Cowen increased their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Finally, Stifel Nicolaus dropped their price objective on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $209.22.

Insider Transactions at Paycom Software

In other news, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the sale, the chief operating officer now owns 50,665 shares of the company’s stock, valued at $10,750,606.35. The trade was a 6.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 14.50% of the company’s stock.

Paycom Software Trading Up 0.4 %

Shares of Paycom Software stock opened at $220.37 on Tuesday. The firm has a market cap of $12.62 billion, a PE ratio of 24.76, a PEG ratio of 2.40 and a beta of 1.15. The stock has a 50 day moving average of $208.28 and a 200 day moving average of $196.68. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74.

Paycom Software (NYSE:PAYC) 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%. As a group, equities research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.68%. Paycom Software’s payout ratio is currently 16.85%.

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.