Congress Asset Management Co. MA Has $102.82 Million Stake in Paycom Software, Inc. (NYSE:PAYC)

Congress Asset Management Co. MA grew its holdings in Paycom Software, Inc. (NYSE:PAYC) by 37.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 497,397 shares of the software maker’s stock after purchasing an additional 135,435 shares during the period. Congress Asset Management Co. MA owned about 0.86% of Paycom Software worth $102,822,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Oak Family Advisors LLC bought a new stake in shares of Paycom Software in the 4th quarter valued at approximately $2,994,000. Janney Montgomery Scott LLC grew its stake in shares of Paycom Software by 26.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 50,315 shares of the software maker’s stock valued at $10,401,000 after buying an additional 10,555 shares in the last quarter. Norges Bank bought a new stake in shares of Paycom Software in the 4th quarter valued at approximately $6,670,000. Charles Schwab Investment Management Inc. boosted its position in Paycom Software by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 302,544 shares of the software maker’s stock worth $62,542,000 after purchasing an additional 12,708 shares during the period. Finally, National Bank of Canada FI grew its holdings in Paycom Software by 367.8% during the fourth quarter. National Bank of Canada FI now owns 49,541 shares of the software maker’s stock valued at $10,136,000 after purchasing an additional 38,951 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Trading Up 1.3 %

PAYC stock traded up $1.79 during midday trading on Friday, hitting $142.78. The stock had a trading volume of 795,572 shares, compared to its average volume of 858,268. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 2.17 and a beta of 1.17. Paycom Software, Inc. has a 52 week low of $140.12 and a 52 week high of $374.04. The stock has a 50-day simple moving average of $173.84 and a 200 day simple moving average of $186.44.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, topping the consensus estimate of $1.96 by $2.29. The firm had revenue of $499.88 million during the quarter, compared to analysts’ expectations of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. On average, equities analysts forecast that Paycom Software, Inc. will post 6.26 EPS for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.05%. Paycom Software’s payout ratio is presently 18.27%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the completion of the transaction, the chief executive officer now directly owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jason D. Clark sold 906 shares of Paycom Software stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $143.61, for a total value of $130,110.66. Following the completion of the transaction, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $179.78, for a total value of $350,571.00. Following the completion of the transaction, the chief executive officer now directly owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,837 shares of company stock valued at $3,152,298. 14.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Barclays lowered their price target on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a report on Tuesday, May 28th. BMO Capital Markets lowered their price target on Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, May 2nd. Finally, William Blair reiterated a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. Sixteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $246.31.

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.