Jacksonville Wealth Management LLC Has $393,000 Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Jacksonville Wealth Management LLC reduced its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,799 shares of the software maker’s stock after selling 121 shares during the quarter. Jacksonville Wealth Management LLC’s holdings in Paycom Software were worth $393,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Sylebra Capital LLC raised its stake in shares of Paycom Software by 63.8% in the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker’s stock worth $658,996,000 after purchasing an additional 1,252,617 shares during the last quarter. FMR LLC raised its stake in shares of Paycom Software by 137.8% in the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock worth $491,201,000 after purchasing an additional 1,388,533 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Paycom Software by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker’s stock worth $310,245,000 after purchasing an additional 89,848 shares during the last quarter. Northern Trust Corp raised its stake in shares of Paycom Software by 10.9% in the fourth quarter. Northern Trust Corp now owns 724,016 shares of the software maker’s stock worth $148,402,000 after purchasing an additional 70,897 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Paycom Software by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker’s stock worth $102,090,000 after purchasing an additional 11,611 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Paycom Software

In other news, COO Randall Peck sold 890 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the transaction, the chief operating officer now directly owns 49,394 shares of the company’s stock, valued at $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad R. Richison sold 26,426 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $255.52, for a total value of $6,752,371.52. Following the completion of the transaction, the chief executive officer now directly owns 3,277,249 shares of the company’s stock, valued at $837,402,664.48. The trade was a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 170,516 shares of company stock valued at $42,361,668. Company insiders own 10.90% of the company’s stock.

Paycom Software Stock Down 0.4%

PAYC stock opened at $250.79 on Friday. The business has a 50 day moving average of $239.35 and a 200-day moving average of $222.90. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $267.76. The firm has a market cap of $14.51 billion, a PE ratio of 28.18, a P/E/G ratio of 2.40 and a beta of 0.81.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The business had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. During the same period in the prior year, the company earned $2.59 earnings per share. Paycom Software’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software’s dividend payout ratio (DPR) is 21.40%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PAYC. JPMorgan Chase & Co. increased their price objective on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Barclays increased their price objective on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. BMO Capital Markets increased their price objective on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a research note on Thursday, May 8th. KeyCorp upped their target price on Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, Wall Street Zen lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Paycom Software has an average rating of “Hold” and an average target price of $226.90.

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.