Pine Valley Investments Ltd Liability Co Decreases Stake in Paycom Software, Inc. (NYSE:PAYC)

Pine Valley Investments Ltd Liability Co reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 20.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,241 shares of the software maker’s stock after selling 2,812 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Paycom Software were worth $2,304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PAYC. FMR LLC increased its holdings in Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after buying an additional 357,723 shares during the period. Confluence Investment Management LLC increased its holdings in Paycom Software by 147.3% in the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after buying an additional 225,081 shares during the period. Strategic Financial Concepts LLC acquired a new position in Paycom Software in the 4th quarter worth approximately $42,893,000. Charles Schwab Investment Management Inc. increased its holdings in Paycom Software by 45.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock worth $81,030,000 after buying an additional 151,807 shares during the period. Finally, Aureus Asset Management LLC increased its holdings in Paycom Software by 417.8% in the 3rd quarter. Aureus Asset Management LLC now owns 133,214 shares of the software maker’s stock worth $22,189,000 after buying an additional 107,487 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PAYC. Jefferies Financial Group increased their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Piper Sandler lifted their target price on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, February 14th. BMO Capital Markets lifted their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. Finally, Barclays decreased their price objective on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $209.22.

Paycom Software Stock Performance

Shares of Paycom Software stock opened at $218.96 on Wednesday. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The firm has a 50-day simple moving average of $207.67 and a two-hundred day simple moving average of $194.49. The company has a market cap of $12.54 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15.

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

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 annualized dividend and a dividend yield of 0.69%. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Insider Buying and Selling

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the sale, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.