Horizon Investments LLC Buys 7,167 Shares of Paycom Software, Inc. (NYSE:PAYC)

Horizon Investments LLC grew its position in Paycom Software, Inc. (NYSE:PAYC) by 1,085.9% in the fourth quarter, according to its most recent filing with the SEC. The fund 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 SEC.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in Paycom Software in the 3rd quarter worth about $28,000. Pin Oak Investment Advisors Inc. grew its position in shares of Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after buying an additional 77 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of 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 buying an additional 189 shares during the period. IFP Advisors Inc increased its stake in shares of Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after buying an additional 178 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Paycom Software by 33.3% during the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity

In other news, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the transaction, the chief operating officer now owns 50,665 shares in the company, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction on Monday, February 24th. The stock was 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 $1,686,840.60. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock worth $1,476,024 over the last three months. 14.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on PAYC. Barclays decreased their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. KeyCorp upgraded shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price objective for the company in a research report on Monday, March 10th. Piper Sandler boosted their target price on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. Finally, TD Cowen lifted their price objective on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and an average target price of $212.80.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $217.71 on Thursday. The business has a 50-day simple moving average of $209.87 and a 200 day simple moving average of $200.65. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The firm 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 data on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating 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%. On average, sell-side analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current 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. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is 16.85%.

Paycom Software Company 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.