Assenagon Asset Management S.A. Sells 3,779 Shares of Paycom Software, Inc. (NYSE:PAYC)

Assenagon Asset Management S.A. reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 74.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,312 shares of the software maker's stock after selling 3,779 shares during the period. Assenagon Asset Management S.A.'s holdings in Paycom Software were worth $287,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in shares of Paycom Software during the 4th quarter valued at about $7,142,000. Glenview Trust co lifted its position in shares of Paycom Software by 27.1% during the 4th quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock valued at $2,520,000 after buying an additional 2,625 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Paycom Software by 43.0% during the 4th quarter. American Century Companies Inc. now owns 52,755 shares of the software maker's stock valued at $10,813,000 after buying an additional 15,852 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in Paycom Software by 0.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 20,240 shares of the software maker's stock valued at $4,184,000 after purchasing an additional 79 shares during the period. Finally, Rhumbline Advisers raised its stake in Paycom Software by 11.9% during the 1st quarter. Rhumbline Advisers now owns 102,936 shares of the software maker's stock valued at $22,489,000 after purchasing an additional 10,908 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Price Performance

NYSE:PAYC opened at $232.69 on Friday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $267.76. The stock's 50 day simple moving average is $242.18 and its two-hundred day simple moving average is $223.08. The company has a market cap of $13.46 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 2.56 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $522.92 million. During the same quarter in the previous year, the company posted $2.59 EPS. The company's revenue was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is 21.40%.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the sale, the insider now owns 27,233 shares in the company, valued at $6,807,160.68. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chad R. Richison sold 120,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the completion of the sale, the chief executive officer now owns 3,307,249 shares in the company, valued at approximately $805,381,276.48. The trade was a 3.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,016 shares of company stock worth $42,736,608. 10.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PAYC. Piper Sandler lifted their target price on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Barclays lifted their target price on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. KeyCorp lifted their target price on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Wall Street Zen downgraded Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $226.90.

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.

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