Ninety One UK Ltd Decreases Stake in Paycom Software, Inc. (NYSE:PAYC)

Ninety One UK Ltd reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 33.7% during 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 0.20% of Paycom Software worth $25,431,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sylebra Capital LLC boosted its stake in shares of Paycom Software by 63.8% during 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. FMR LLC increased its holdings in Paycom Software by 137.8% in the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock worth $491,201,000 after purchasing an additional 1,388,533 shares in the last quarter. Geode Capital Management LLC grew its stake in Paycom Software by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker's stock valued at $310,245,000 after acquiring an additional 89,848 shares during the period. Northern Trust Corp grew its stake in Paycom Software by 10.9% in the fourth quarter. Northern Trust Corp now owns 724,016 shares of the software maker's stock valued at $148,402,000 after acquiring an additional 70,897 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew 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 acquiring an additional 369,825 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Price Performance

PAYC remained flat at $233.97 during midday trading on Wednesday. The company's stock had a trading volume of 476,478 shares, compared to its average volume of 662,223. The firm has a 50 day moving average price of $245.65 and a two-hundred day moving average price of $223.23. The company has a market cap of $13.54 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 2.56 and a beta of 0.77. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week 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 (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 firm had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. During the same quarter in the prior year, the company earned $2.59 EPS. The business's revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were paid 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 0.64%. Paycom Software's dividend payout ratio is 21.40%.

Analysts Set New Price Targets

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

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction on 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 directly owned 3,307,249 shares in the company, valued at approximately $805,381,276.48. The trade was a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction 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 transaction, the insider owned 27,233 shares in the company, valued at $6,807,160.68. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 172,016 shares of company stock worth $42,736,608 in the last ninety days. Insiders own 10.90% of the company's stock.

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.