Kovack Advisors Inc. Sells 345 Shares of Paycom Software, Inc. (NYSE:PAYC)

Kovack Advisors Inc. cut its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 14.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the software maker’s stock after selling 345 shares during the quarter. Kovack Advisors Inc.’s holdings in Paycom Software were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in Paycom Software during the first quarter valued at $26,000. Hexagon Capital Partners LLC lifted its position in Paycom Software by 333.3% during the 4th 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 period. Transcendent Capital Group LLC purchased a new position in Paycom Software during the 4th quarter valued at about $41,000. GAMMA Investing LLC bought a new stake in Paycom Software during the fourth quarter worth about $49,000. Finally, Quest Partners LLC purchased a new stake in Paycom Software in the fourth quarter worth about $56,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PAYC. JPMorgan Chase & Co. boosted their price target on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Mizuho dropped their target price on Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. William Blair restated a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. BMO Capital Markets dropped their price target on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Finally, Barclays reduced their price objective 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. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $237.81.

Insider Buying and Selling

In other Paycom Software news, insider Jason D. Clark sold 906 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $143.61, for a total transaction of $130,110.66. Following the completion of the sale, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the transaction, the chief executive officer now directly owns 3,090,008 shares of the company’s stock, valued at approximately $555,521,638.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,537 shares of company stock valued at $4,823,818. 12.60% of the stock is owned by insiders.

Paycom Software Price Performance

NYSE PAYC opened at $143.11 on Friday. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 17.43, a PEG 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 business’s fifty day moving average price is $159.83 and its 200-day moving average price is $181.98.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. The company had revenue of $499.88 million during the quarter, compared to analysts’ expectations of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. Equities research analysts anticipate that Paycom Software, Inc. will post 6.37 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, May 24th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

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.