Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board trimmed its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 50.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,774 shares of the software maker's stock after selling 61,400 shares during the period. Canada Pension Plan Investment Board owned approximately 0.10% of Paycom Software worth $12,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GKV Capital Management Co. Inc. bought a new stake in Paycom Software during the fourth quarter worth approximately $328,000. Farringdon Capital Ltd. bought a new position in shares of Paycom Software during the 4th quarter valued at approximately $396,000. Lafayette Investments Inc. raised its holdings in Paycom Software by 1.1% during the 4th quarter. Lafayette Investments Inc. now owns 27,842 shares of the software maker's stock valued at $5,707,000 after buying an additional 303 shares during the period. Guggenheim Capital LLC lifted its position in Paycom Software by 48.0% in the fourth quarter. Guggenheim Capital LLC now owns 5,577 shares of the software maker's stock worth $1,143,000 after buying an additional 1,808 shares during the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Paycom Software during the fourth quarter worth $19,478,000. 87.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PAYC has been the topic of several recent analyst reports. Piper Sandler increased their target price on shares of Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Citigroup reduced their price target on Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, KeyCorp upgraded Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price objective for the company in a report on Monday, March 10th. Twelve equities 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, the stock currently has an average rating of "Hold" and an average target price of $212.80.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now directly owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the transaction, the director now owns 7,730 shares of the company's stock, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock worth $1,476,024 in the last three months. Corporate insiders own 10.90% of the company's stock.

Paycom Software Stock Up 1.0 %

PAYC stock traded up $2.22 during trading on Friday, hitting $228.08. 348,913 shares of the company's stock traded hands, compared to its average volume of 714,631. The business has a fifty day simple moving average of $214.84 and a two-hundred day simple moving average of $209.96. The firm has a market capitalization of $13.19 billion, a P/E ratio of 25.63, a PEG ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, equities research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a dividend of $0.375 per share. The ex-dividend date was Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.66%. Paycom Software's payout ratio is 16.85%.

About Paycom Software

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.