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

Mediolanum International Funds Ltd purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 33,086 shares of the software maker’s stock, valued at approximately $6,525,000. Mediolanum International Funds Ltd owned about 0.06% of Paycom Software as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Paycom Software by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after acquiring an additional 137,583 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Paycom Software by 18.8% in the 3rd quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock valued at $295,441,000 after acquiring an additional 180,202 shares in the last quarter. Brown Capital Management LLC increased its stake in shares of Paycom Software by 10.1% in the 4th quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock valued at $228,642,000 after acquiring an additional 101,744 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Paycom Software by 7.9% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock valued at $182,426,000 after acquiring an additional 71,272 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Paycom Software by 16,173.6% in the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock valued at $162,855,000 after acquiring an additional 782,962 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In related news, insider Jason D. Clark sold 906 shares of the business’s 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 sale, the insider now directly owns 43,367 shares in the company, valued at approximately $6,227,934.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $140.79, for a total transaction of $274,540.50. Following the sale, the chief executive officer now directly owns 3,027,608 shares in the company, valued at $426,256,930.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jason D. Clark sold 906 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $143.61, for a total value of $130,110.66. Following the sale, the insider now owns 43,367 shares in the company, valued at $6,227,934.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,387 shares of company stock worth $5,653,933. Company insiders own 12.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on PAYC shares. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. Barclays decreased their price target on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Mizuho decreased their price target on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. William Blair restated a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Finally, Jefferies Financial Group decreased their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Sixteen analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $237.81.

Paycom Software Trading Up 0.1 %

Shares of NYSE:PAYC traded up $0.14 during midday trading on Wednesday, reaching $140.30. The company had a trading volume of 581,325 shares, compared to its average volume of 853,349. The company’s 50 day moving average price is $155.96 and its 200 day moving average price is $180.00. The stock has a market cap of $8.15 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.13 and a beta of 1.16. 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 quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $2.29. The company had revenue of $499.88 million for the quarter, compared to the consensus estimate of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. Research analysts forecast that Paycom Software, Inc. will post 6.37 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, May 24th. Paycom Software’s dividend payout ratio is currently 18.27%.

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.