Paycom Software, Inc. (NYSE:PAYC) Stake Trimmed by Choreo LLC

Key Points

• Choreo LLC has reduced its holdings in Paycom Software by 51.8%, selling 1,522 shares, and now owns 1,415 shares worth $309,000.
• Paycom Software reported a Q1 earnings per share of $2.80, exceeding expectations, with quarterly revenue growing 6.1% compared to the previous year.
• The company recently announced a quarterly dividend of $0.375 per share, representing an annualized dividend of $1.50 with a yield of 0.63%.

Choreo LLC cut its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 51.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,415 shares of the software maker's stock after selling 1,522 shares during the period. Choreo LLC's holdings in Paycom Software were worth $309,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC lifted its stake in Paycom Software by 8.4% during the first quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker's stock worth $323,000 after purchasing an additional 114 shares in the last quarter. SG Americas Securities LLC lifted its stake in Paycom Software by 57.1% during the 1st quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker's stock worth $587,000 after acquiring an additional 976 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Paycom Software by 54.5% during the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker's stock valued at $198,000 after acquiring an additional 319 shares during the period. American Century Companies Inc. grew its position in Paycom Software by 43.0% in the 4th quarter. American Century Companies Inc. now owns 52,755 shares of the software maker's stock valued at $10,813,000 after acquiring an additional 15,852 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Paycom Software by 11.9% during the first quarter. Rhumbline Advisers now owns 102,936 shares of the software maker's stock worth $22,489,000 after purchasing an additional 10,908 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Price Performance

Paycom Software stock traded down $5.01 during trading hours on Friday, hitting $226.53. The stock had a trading volume of 580,497 shares, compared to its average volume of 463,397. Paycom Software, Inc. has a 1-year low of $152.46 and a 1-year high of $267.76. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 2.55 and a beta of 0.81. The stock's fifty day moving average is $239.49 and its two-hundred day moving average is $226.32.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. The firm had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $2.59 EPS. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders 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 0.7%. Paycom Software's payout ratio is 21.40%.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several research reports. KeyCorp increased their price target on shares of Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. BMO Capital Markets boosted their price target on shares of Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. Stifel Nicolaus upped their price objective on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Piper Sandler lifted their target price on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Barclays upped their price target on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Eleven 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.com, the company currently has a consensus rating of "Hold" and a consensus target price of $226.90.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total transaction of $374,940.00. Following the transaction, the insider owned 27,233 shares of the company's stock, 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 accessible through this hyperlink. Also, COO Randall Peck sold 890 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction 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. This represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 172,016 shares of company stock worth $42,736,608. Insiders own 10.90% of the company's stock.

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.