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

Citigroup Inc. lowered its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 31.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,255 shares of the software maker's stock after selling 35,870 shares during the period. Citigroup Inc. owned approximately 0.14% of Paycom Software worth $17,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in shares of Paycom Software during the first quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its holdings in shares of Paycom Software by 112.3% in the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock valued at $30,000 after purchasing an additional 73 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Paycom Software by 135.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after purchasing an additional 87 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of Paycom Software in the first quarter valued at approximately $35,000. Finally, Putney Financial Group LLC purchased a new stake in shares of Paycom Software in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Insider Transactions at Paycom Software

In related news, COO Randall Peck sold 890 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the transaction, the chief operating officer owned 49,394 shares in the company, valued at $13,000,994.74. This represents a 1.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad R. Richison sold 23,200 shares of the company'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 transaction, the chief executive officer 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 disclosure for this sale can be found here. Insiders have sold a total of 25,590 shares of company stock valued at $6,761,837 in the last ninety days. 10.90% of the stock is currently owned by corporate insiders.

Paycom Software Stock Performance

Shares of NYSE PAYC traded up $0.96 during mid-day trading on Friday, hitting $216.96. The stock had a trading volume of 593,617 shares, compared to its average volume of 654,353. Paycom Software, Inc. has a twelve month low of $153.08 and a twelve month high of $267.76. The firm has a market cap of $12.56 billion, a PE ratio of 29.36, a PEG ratio of 2.37 and a beta of 0.81. The company has a 50 day moving average of $231.83 and a two-hundred day moving average of $227.45.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating the consensus estimate of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. During the same period in the prior year, the company earned $1.62 earnings per share. The firm's revenue was up 10.5% on a year-over-year basis. Equities research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 25th. Paycom Software's dividend payout ratio is presently 20.30%.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of recent research reports. Cantor Fitzgerald initiated coverage on shares of Paycom Software in a research note on Thursday. They issued a "neutral" rating and a $230.00 price objective for the company. Stifel Nicolaus boosted their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Piper Sandler boosted their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. BMO Capital Markets boosted their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $234.36.

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.