Ninety One UK Ltd Has $25.43 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Ninety One UK Ltd trimmed its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 33.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,400 shares of the software maker's stock after selling 59,148 shares during the period. Ninety One UK Ltd owned 0.20% of Paycom Software worth $25,431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PAYC. Brighton Jones LLC acquired a new stake in shares of Paycom Software in the 4th quarter valued at $638,000. Victory Capital Management Inc. increased its stake in shares of Paycom Software by 5.9% in the 4th quarter. Victory Capital Management Inc. now owns 8,078 shares of the software maker's stock valued at $1,656,000 after buying an additional 450 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Paycom Software in the 4th quarter valued at $7,142,000. Raymond James Financial Inc. acquired a new stake in shares of Paycom Software in the 4th quarter valued at $63,923,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Paycom Software by 4.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,961 shares of the software maker's stock valued at $1,222,000 after buying an additional 270 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays raised their price target on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Piper Sandler raised their price target on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Stifel Nicolaus raised their price target on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Finally, KeyCorp raised their price target on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $226.90.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 23,200 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total value of $6,152,640.00. Following the sale, the chief executive officer owned 3,224,049 shares in the company, valued at $855,017,794.80. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley Scott Smith sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the sale, the insider owned 27,233 shares in the company, valued at $6,807,160.68. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,016 shares of company stock worth $42,736,608. Corporate insiders own 10.90% of the company's stock.

Paycom Software Trading Down 1.2%

Shares of PAYC stock traded down $2.80 on Thursday, hitting $231.28. 90,286 shares of the stock were exchanged, compared to its average volume of 659,661. The firm has a market capitalization of $13.38 billion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 2.58 and a beta of 0.77. The business has a 50-day moving average of $245.65 and a 200 day moving average of $223.23. Paycom Software, Inc. has a fifty-two week low of $139.53 and a fifty-two week high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last released its earnings results 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 25.53% and a net margin of 20.60%. The business had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same quarter in the prior year, the company posted $2.59 earnings per share. Paycom Software's revenue was up 6.1% on a year-over-year basis. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

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

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.