Paycom Software, Inc. (NYSE:PAYC) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its stake in Paycom Software, Inc. (NYSE:PAYC) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,080 shares of the software maker’s stock after selling 70 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Paycom Software were worth $1,971,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc grew its stake in Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock valued at $26,000 after acquiring an additional 112 shares during the period. von Borstel & Associates Inc. acquired a new stake in Paycom Software in the 1st quarter valued at $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in Paycom Software in the 4th quarter valued at $30,000. Golden State Wealth Management LLC grew its stake in Paycom Software by 112.3% in the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after acquiring an additional 73 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock valued at $33,000 after acquiring an additional 87 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Down 4.0%

NYSE PAYC opened at $220.15 on Monday. Paycom Software, Inc. has a 52 week low of $148.22 and a 52 week high of $267.76. The business’s fifty day simple moving average is $245.69 and its 200-day simple moving average is $223.62. The firm has a market cap of $12.74 billion, a PE ratio of 31.41, a P/E/G ratio of 2.43 and a beta of 0.77.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The business 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 earned $2.59 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software’s payout ratio is 21.40%.

Analyst Ratings Changes

PAYC has been the topic of a number of research analyst reports. Barclays lifted their price target 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. BMO Capital Markets raised their price objective on Paycom Software from $215.00 to $244.00 and gave the company a “market perform” rating in a report on Thursday, May 8th. KeyCorp raised their price objective on Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Piper Sandler raised their price objective on Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $226.90.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 23,200 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the completion of the sale, the chief executive officer directly owned 3,224,049 shares of the company’s stock, valued at approximately $855,017,794.80. This trade represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Randall Peck sold 890 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total value of $234,256.90. Following the sale, the chief operating officer directly owned 49,394 shares of the company’s stock, valued at $13,000,994.74. The trade was a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,016 shares of company stock valued at $42,736,608. 10.90% of the stock is currently owned by insiders.

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.