Confluence Investment Management LLC Sells 10,762 Shares of Paycom Software, Inc. (NYSE:PAYC)

Confluence Investment Management LLC reduced its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 350,995 shares of the software maker's stock after selling 10,762 shares during the period. Confluence Investment Management LLC owned about 0.61% of Paycom Software worth $76,685,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PAYC. Proficio Capital Partners LLC purchased a new position in shares of Paycom Software in the 4th quarter valued at $7,142,000. Glenview Trust co lifted its stake in shares of Paycom Software by 27.1% in the 4th quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock worth $2,520,000 after acquiring an additional 2,625 shares during the period. American Century Companies Inc. lifted its stake in shares of Paycom Software by 43.0% in the fourth quarter. American Century Companies Inc. now owns 52,755 shares of the software maker's stock valued at $10,813,000 after purchasing an additional 15,852 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Paycom Software by 0.4% in the fourth 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, Hantz Financial Services Inc. lifted its stake in shares of Paycom Software by 5.5% in the fourth quarter. Hantz Financial Services Inc. now owns 44,510 shares of the software maker's stock valued at $9,123,000 after purchasing an additional 2,334 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of recent research reports. Barclays lifted their price target 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. JPMorgan Chase & Co. upped their target price on shares of Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a 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 report on Thursday, May 8th. Finally, KeyCorp boosted their target price on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating 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 stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $226.90.

Paycom Software Stock Down 0.7%

Shares of PAYC traded down $1.72 during trading hours on Monday, reaching $257.38. The company's stock had a trading volume of 200,489 shares, compared to its average volume of 686,587. The firm has a market cap of $14.89 billion, a price-to-earnings ratio of 28.92, a P/E/G ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $262.80. The company has a 50 day moving average of $231.35 and a two-hundred day moving average of $220.66.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The company had revenue of $530.50 million for the quarter, compared to the consensus estimate of $522.92 million. During the same quarter in the prior year, the company earned $2.59 EPS. The firm's quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a yield of 0.58%. Paycom Software's dividend payout ratio is currently 21.40%.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 26,426 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the completion of the sale, the chief executive officer now owns 3,277,249 shares of the company's stock, valued at $837,402,664.48. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was 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 $5,775,620.33. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 149,426 shares of company stock worth $36,577,802. Insiders own 10.90% of the company's stock.

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.