Ninety One UK Ltd Sells 59,148 Shares of Paycom Software, Inc. (NYSE:PAYC)

Ninety One UK Ltd decreased its holdings in shares of 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 Securities and Exchange Commission (SEC). The firm owned 116,400 shares of the software maker's stock after selling 59,148 shares during the quarter. Ninety One UK Ltd owned about 0.20% of Paycom Software worth $25,431,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. FMR LLC increased its stake in Paycom Software by 137.8% in the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock valued at $491,201,000 after purchasing an additional 1,388,533 shares in the last quarter. Sylebra Capital LLC increased its stake in Paycom Software by 63.8% in the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock valued at $658,996,000 after purchasing an additional 1,252,617 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Paycom Software by 1,153.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock valued at $82,375,000 after purchasing an additional 369,825 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Paycom Software in the fourth quarter valued at approximately $63,923,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in Paycom Software in the fourth quarter valued at approximately $60,882,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC traded down $9.21 during mid-day trading on Friday, reaching $220.15. 624,486 shares of the company's stock were exchanged, compared to its average volume of 659,698. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 2.43 and a beta of 0.77. The business's fifty day moving average price is $245.69 and its 200-day moving average price is $223.62. Paycom Software, Inc. has a twelve month low of $148.22 and a twelve month high of $267.76.

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

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is currently 21.40%.

Analyst Ratings Changes

PAYC has been the subject of several research reports. KeyCorp increased their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Barclays increased their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. BMO Capital Markets increased their price objective 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. Finally, Piper Sandler increased their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $226.90.

Insider Activity

In other news, COO Randall Peck sold 890 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value 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 position. The sale 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 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 sale, the insider directly owned 27,233 shares of the company's stock, valued at $6,807,160.68. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,016 shares of company stock valued at $42,736,608 over the last quarter. Company insiders own 10.90% of the company's stock.

Paycom Software Company 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.