First Foundation Advisors Has $5.12 Million Position in Paycom Software, Inc. (NYSE:PAYC)

First Foundation Advisors grew its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 12.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,972 shares of the software maker’s stock after purchasing an additional 2,698 shares during the period. First Foundation Advisors’ holdings in Paycom Software were worth $5,118,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PAYC. Murphy & Mullick Capital Management Corp purchased a new stake in Paycom Software in the 4th quarter valued at about $30,000. IFP Advisors Inc increased its stake in Paycom Software by 635.7% in the 4th 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. Blue Trust Inc. boosted its position in shares of Paycom Software by 33.3% in the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after buying an additional 88 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Paycom Software during the 3rd quarter valued at about $79,000. Finally, Huntington National Bank increased its position in Paycom Software by 46.5% during the 4th quarter. Huntington National Bank now owns 551 shares of the software maker’s stock worth $113,000 after purchasing an additional 175 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Citigroup lowered their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Mizuho upped their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. JPMorgan Chase & Co. upped their target price on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Barclays decreased their target price on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $212.80.

Paycom Software Price Performance

NYSE PAYC opened at $212.65 on Thursday. The firm has a market cap of $12.18 billion, a P/E ratio of 23.89, a P/E/G ratio of 2.40 and a beta of 0.97. The stock’s 50-day moving average is $212.39 and its 200-day moving average is $206.07. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. Equities analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.375 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.71%. Paycom Software’s dividend payout ratio is presently 16.85%.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now owns 28,733 shares in the company, valued at approximately $5,775,620.33. The trade was a 9.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director J C. Watts, Jr. sold 500 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the transaction, the director now directly owns 7,730 shares in the company, valued at $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,100 shares of company stock valued at $1,476,024. Corporate insiders own 14.50% of the company’s stock.

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.