Paycom Software, Inc. (NYSE:PAYC) Stake Trimmed by Tredje AP fonden

Tredje AP fonden lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,463 shares of the software maker’s stock after selling 133 shares during the period. Tredje AP fonden’s holdings in Paycom Software were worth $1,211,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. ARK & TLK Investments LLC acquired a new stake in shares of Paycom Software in the fourth quarter worth $2,260,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Paycom Software by 29.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after acquiring an additional 14,670 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Paycom Software by 17.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock valued at $11,790,000 after purchasing an additional 8,927 shares during the period. Norges Bank purchased a new stake in shares of Paycom Software in the fourth quarter worth approximately $6,670,000. Finally, Sylebra Capital LLC acquired a new stake in shares of Paycom Software during the first quarter worth approximately $253,196,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PAYC shares. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Jefferies Financial Group cut their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. Barclays lifted their price objective on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Finally, Citigroup reduced their price target on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Paycom Software has a consensus rating of “Hold” and an average price target of $178.33.

Paycom Software Trading Down 1.6 %

Shares of Paycom Software stock opened at $170.24 on Friday. The firm has a fifty day simple moving average of $162.09 and a 200-day simple moving average of $168.28. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.39 and a beta of 1.17. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $279.96.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The firm had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. As a group, research analysts predict that Paycom Software, Inc. will post 6.67 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is currently 18.27%.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $145.48, for a total value of $283,686.00. Following the completion of the sale, the chief executive officer now directly owns 3,045,158 shares of the company’s stock, valued at $443,009,585.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $145.48, for a total value of $283,686.00. Following the completion of the sale, the chief executive officer now directly owns 3,045,158 shares of the company’s stock, valued at approximately $443,009,585.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the completion of the sale, the chief financial officer now owns 294,849 shares in the company, valued at $45,990,547.02. The disclosure for this sale can be found here. Insiders have sold a total of 73,856 shares of company stock valued at $11,532,113 in the last three months. Company insiders own 14.50% of the company’s stock.

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.