Mediolanum International Funds Ltd Invests $6.53 Million in Paycom Software, Inc. (NYSE:PAYC)

Mediolanum International Funds Ltd acquired a new position in Paycom Software, Inc. (NYSE:PAYC) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 33,086 shares of the software maker’s stock, valued at approximately $6,525,000.

A number of other hedge funds have also recently made changes to their positions in the business. HBK Sorce Advisory LLC raised its position in Paycom Software by 5.9% during the fourth quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock valued at $204,000 after purchasing an additional 55 shares during the period. Optas LLC grew its stake in Paycom Software by 6.1% in the first quarter. Optas LLC now owns 1,059 shares of the software maker’s stock worth $211,000 after purchasing an additional 61 shares in the last quarter. Bouvel Investment Partners LLC grew its stake in Paycom Software by 1.0% in the fourth quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock worth $1,329,000 after purchasing an additional 63 shares in the last quarter. Wahed Invest LLC grew its stake in Paycom Software by 7.9% in the fourth quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock worth $181,000 after purchasing an additional 64 shares in the last quarter. Finally, Court Place Advisors LLC grew its stake in Paycom Software by 3.3% in the fourth quarter. Court Place Advisors LLC now owns 2,065 shares of the software maker’s stock worth $427,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PAYC shares. JPMorgan Chase & Co. increased their price objective on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. TD Cowen dropped their target price on Paycom Software from $170.00 to $147.00 and set a “hold” rating on the stock in a research report on Thursday, June 20th. Mizuho dropped their target price on Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Citigroup dropped their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Finally, BMO Capital Markets dropped their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $237.81.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $140.46, for a total value of $273,897.00. Following the completion of the transaction, the chief executive officer now owns 3,041,258 shares in the company, valued at approximately $427,175,098.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Paycom Software 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 transaction of $130,110.66. Following the completion of the transaction, the insider now owns 43,367 shares in the company, valued at approximately $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 Wednesday, June 26th. The shares were sold at an average price of $140.46, for a total value of $273,897.00. Following the transaction, the chief executive officer now owns 3,041,258 shares of the company’s stock, valued at approximately $427,175,098.68. The disclosure for this sale can be found here. Insiders sold 37,387 shares of company stock worth $5,653,933 in the last 90 days. Insiders own 12.60% of the company’s stock.

Paycom Software Stock Performance

PAYC stock traded up $0.14 during midday trading on Wednesday, reaching $140.30. The stock had a trading volume of 581,325 shares, compared to its average volume of 853,349. The stock has a market cap of $8.15 billion, a PE ratio of 17.09, a P/E/G ratio of 2.13 and a beta of 1.16. The firm has a fifty day simple moving average of $155.96 and a two-hundred day simple moving average of $180.00. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $374.04.

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

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 1.07%. Paycom Software’s dividend payout ratio (DPR) 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.