JT Stratford LLC Reduces Stock Position in Paycom Software, Inc. (NYSE:PAYC)

JT Stratford LLC lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 51.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,003 shares of the software maker's stock after selling 1,083 shares during the period. JT Stratford LLC's holdings in Paycom Software were worth $206,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PAYC. Barclays PLC raised its stake in shares of Paycom Software by 0.6% during the 3rd quarter. Barclays PLC now owns 109,636 shares of the software maker's stock valued at $18,261,000 after buying an additional 617 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Paycom Software by 317.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,091 shares of the software maker's stock valued at $1,044,000 after purchasing an additional 3,871 shares in the last quarter. Atomi Financial Group Inc. purchased a new position in shares of Paycom Software in the 4th quarter valued at about $246,000. Nisa Investment Advisors LLC increased its stake in shares of Paycom Software by 175.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,351 shares of the software maker's stock valued at $1,507,000 after purchasing an additional 4,685 shares in the last quarter. Finally, Brighton Jones LLC purchased a new position in shares of Paycom Software in the 4th quarter valued at about $638,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Wall Street Zen lowered Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. KeyCorp lifted their price target on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Piper Sandler lifted their price objective on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, BMO Capital Markets lifted their price objective on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Paycom Software presently has an average rating of "Hold" and a consensus price target of $226.90.

Paycom Software Price Performance

Shares of PAYC stock traded down $3.13 during trading on Thursday, hitting $256.34. 113,602 shares of the stock traded hands, compared to its average volume of 695,257. The firm has a market capitalization of $14.83 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The firm's fifty day moving average price is $229.99 and its 200-day moving average price is $220.34. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $263.27.

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

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Tuesday, May 27th. Paycom Software's payout ratio is 21.40%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the business'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 owns 28,733 shares of the company's stock, valued at $5,775,620.33. The trade was a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chad R. Richison sold 26,426 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $255.52, for a total value of $6,752,371.52. Following the completion of the sale, the chief executive officer now owns 3,277,249 shares in the company, valued at approximately $837,402,664.48. The trade was a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 149,426 shares of company stock valued at $36,577,802 over the last quarter. 10.90% of the stock is owned by company insiders.

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.