Davis Investment Partners LLC Sells 2,795 Shares of Paycom Software, Inc. (NYSE:PAYC)

Davis Investment Partners LLC reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 45.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,368 shares of the software maker's stock after selling 2,795 shares during the period. Davis Investment Partners LLC's holdings in Paycom Software were worth $735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Glass Jacobson Investment Advisors llc increased its position in shares of Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after purchasing an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Paycom Software during the 4th quarter worth about $30,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Paycom Software by 135.9% in the 1st 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 in the last quarter. Putney Financial Group LLC acquired a new stake in shares of Paycom Software during the 4th quarter valued at approximately $39,000. Finally, IFP Advisors Inc increased its position in Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock worth $43,000 after buying an additional 178 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Trading Down 2.6%

Shares of NYSE PAYC traded down $6.60 during trading hours on Friday, hitting $244.25. 552,422 shares of the company traded hands, compared to its average volume of 673,809. The company's 50 day moving average price is $240.37 and its 200 day moving average price is $222.87. The stock has a market capitalization of $14.13 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81. 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 announced its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The firm had revenue of $530.50 million during the quarter, compared to analysts' expectations of $522.92 million. During the same period last year, the business posted $2.59 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were paid a dividend of $0.375 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a yield of 0.61%. Paycom Software's dividend payout ratio is presently 21.40%.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 120,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 3,307,249 shares in the company, valued at $805,381,276.48. The trade was a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Randall Peck sold 890 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the sale, the chief operating officer now directly owns 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. In the last ninety days, insiders sold 170,516 shares of company stock valued at $42,361,668. 10.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PAYC has been the subject of several research analyst reports. Barclays increased their price objective on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Piper Sandler increased their target price on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Wall Street Zen cut Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, BMO Capital Markets raised their price objective on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.