Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. reduced its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 64.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,102 shares of the software maker's stock after selling 12,801 shares during the period. Bessemer Group Inc.'s holdings in Paycom Software were worth $1,552,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PAYC. Glass Jacobson Investment Advisors llc raised its stake in Paycom Software by 746.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after buying an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of Paycom Software in the 4th quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Paycom Software by 135.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after acquiring an additional 87 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Paycom Software during the first quarter worth approximately $35,000. Finally, Putney Financial Group LLC purchased a new stake in Paycom Software during the fourth quarter worth approximately $39,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 120,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the transaction, the chief executive officer directly owned 3,307,249 shares in the company, valued at approximately $805,381,276.48. This represents a 3.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Randall Peck sold 890 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the transaction, the chief operating officer directly owned 49,394 shares of the company's stock, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 172,016 shares of company stock worth $42,736,608 over the last quarter. 10.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PAYC shares. Barclays raised their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. KeyCorp lifted their target price on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Stifel Nicolaus upped their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, Wall Street Zen cut shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $226.90.

Paycom Software Trading Down 2.4%

Shares of PAYC stock traded down $5.50 during mid-day trading on Wednesday, reaching $228.30. The stock had a trading volume of 403,783 shares, compared to its average volume of 662,851. The company has a market cap of $13.21 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 2.55 and a beta of 0.77. The business has a 50-day simple moving average of $245.03 and a 200 day simple moving average of $222.73. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share 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 company had revenue of $530.50 million during the quarter, compared to analysts' expectations of $522.92 million. During the same period in the previous year, the firm posted $2.59 earnings per share. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were issued a $0.375 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.66%. Paycom Software's dividend payout ratio is currently 21.40%.

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.