Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd lowered its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 33.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 116,400 shares of the software maker's stock after selling 59,148 shares during the quarter. Ninety One UK Ltd owned approximately 0.20% of Paycom Software worth $25,431,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PAYC. FMR LLC raised its stake in shares of Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock worth $491,201,000 after acquiring an additional 1,388,533 shares in the last quarter. Sylebra Capital LLC grew its position in Paycom Software by 63.8% during the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock worth $658,996,000 after purchasing an additional 1,252,617 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Paycom Software by 1,153.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock worth $82,375,000 after purchasing an additional 369,825 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Paycom Software during the 4th quarter worth approximately $63,923,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Paycom Software during the 4th quarter worth approximately $60,882,000. Institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on PAYC shares. BMO Capital Markets boosted their target price on shares of Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a research report on Thursday, May 8th. Piper Sandler upped their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Stifel Nicolaus upped their price objective 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. KeyCorp upped their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Barclays upped their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Paycom Software currently has a consensus rating of "Hold" and an average price target of $226.90.

Paycom Software Stock Performance

NYSE PAYC traded down $4.73 during mid-day trading on Thursday, reaching $229.35. 418,378 shares of the stock were exchanged, compared to its average volume of 661,250. The company has a market capitalization of $13.27 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.58 and a beta of 0.77. Paycom Software, Inc. has a 1 year low of $140.69 and a 1 year high of $267.76. The business's 50 day moving average is $245.80 and its 200-day moving average is $223.30.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analysts' expectations of $522.92 million. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The business's revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.59 earnings per share. Equities analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Tuesday, May 27th. Paycom Software's dividend payout ratio is presently 21.40%.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the company's stock in a transaction 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 completion of the transaction, the insider directly owned 27,233 shares in the company, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Randall Peck sold 890 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the transaction, the chief operating officer 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. Over the last ninety days, insiders sold 172,016 shares of company stock worth $42,736,608. Company 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.