Lifestyle Asset Management Inc. Buys Shares of 1,209 Paycom Software, Inc. (NYSE:PAYC)

Lifestyle Asset Management Inc. purchased a new position in Paycom Software, Inc. (NYSE:PAYC) during the first quarter, Holdings Channel.com reports. The firm purchased 1,209 shares of the software maker’s stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also modified their holdings of PAYC. Mather Group LLC. acquired a new position in Paycom Software in the 1st quarter worth about $26,000. Hexagon Capital Partners LLC lifted its stake in Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Paycom Software in the fourth quarter worth approximately $41,000. GAMMA Investing LLC acquired a new position in shares of Paycom Software during the 4th quarter worth $49,000. Finally, Quest Partners LLC bought a new position in shares of Paycom Software during the 4th quarter valued at $56,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the 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 in the company, valued at $555,521,638.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jason D. Clark sold 906 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $143.61, for a total transaction of $130,110.66. Following the sale, the insider now directly owns 43,367 shares in the company, valued at approximately $6,227,934.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $179.78, for a total value of $350,571.00. Following the sale, 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. In the last ninety days, insiders have sold 31,537 shares of company stock worth $4,823,818. Company insiders own 12.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PAYC. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Barclays lowered their price objective 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. Citigroup reduced their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Jefferies Financial Group lowered their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Finally, TD Cowen reduced their price objective on shares of Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a research note on Thursday, June 20th. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and a consensus target price of $237.81.

Paycom Software Stock Performance

Shares of NYSE:PAYC traded up $0.78 during trading on Wednesday, hitting $142.95. 458,011 shares of the stock were exchanged, compared to its average volume of 861,195. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. Paycom Software, Inc. has a 1-year low of $139.69 and a 1-year high of $374.04. The company’s fifty day simple moving average is $160.70 and its 200-day simple moving average is $182.25.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $2.29. The firm had revenue of $499.88 million for the quarter, compared to analyst estimates of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. On average, research analysts forecast that Paycom Software, Inc. will post 6.37 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

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. This represents a $1.50 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, May 24th. Paycom Software’s payout ratio is 18.27%.

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.