International Assets Investment Management LLC Sells 90 Shares of Paycom Software, Inc. (NYSE:PAYC)

International Assets Investment Management LLC trimmed its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,401 shares of the software maker’s stock after selling 90 shares during the period. International Assets Investment Management LLC’s holdings in Paycom Software were worth $306,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC bought a new position in Paycom Software in the fourth quarter valued at about $638,000. IFP Advisors Inc lifted its position in Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after purchasing an additional 178 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock valued at $602,000 after purchasing an additional 51 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Paycom Software during the 4th quarter worth approximately $7,142,000. Finally, Private Trust Co. NA raised its stake in shares of Paycom Software by 9.3% during the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock worth $118,000 after buying an additional 49 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, COO Randall Peck sold 890 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the transaction, the chief operating officer now directly owns 49,394 shares in the company, valued at $13,000,994.74. This represents a 1.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the transaction, the insider now owns 27,233 shares of the company’s stock, valued at $6,807,160.68. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 172,016 shares of company stock worth $42,736,608. 10.90% of the stock is owned by corporate insiders.

Paycom Software Stock Performance

Shares of PAYC opened at $227.03 on Friday. The stock has a 50 day simple moving average of $243.88 and a 200 day simple moving average of $222.97. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $267.76. The firm has a market capitalization of $13.13 billion, a PE ratio of 32.39, a P/E/G ratio of 2.48 and a beta of 0.81.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The firm had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same quarter in the previous year, the firm posted $2.59 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Equities research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.375 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. Paycom Software’s dividend payout ratio is currently 21.40%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays raised their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Piper Sandler increased their price target on Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. KeyCorp raised their price target on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th. Finally, Wall Street Zen lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus price target 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.