Pacer Advisors Inc. Sells 1,644 Shares of Paycom Software, Inc. (NYSE:PAYC)

Key Points

• Pacer Advisors Inc. reduced its stake in Paycom Software, Inc. by 37.2%, selling 1,644 shares and holding 2,770 shares valued at approximately $605,000 as of the latest report.
• Paycom's latest earnings report showed an EPS of $2.80, outperforming estimates by $0.18, and revenue increased by 6.1% year-over-year.
• The company's stock price experienced a decline of 1.7% on a day when it opened at $231.57, with analysts maintaining an average rating of "Hold" and a consensus price target of $226.90.

Pacer Advisors Inc. lessened its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 37.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,770 shares of the software maker's stock after selling 1,644 shares during the quarter. Pacer Advisors Inc.'s holdings in Paycom Software were worth $605,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PAYC. von Borstel & Associates Inc. acquired a new stake in shares of Paycom Software during the 1st quarter valued at about $27,000. Glass Jacobson Investment Advisors llc boosted its position in Paycom Software by 746.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after buying an additional 112 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Paycom Software by 112.3% during the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after purchasing an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after purchasing an additional 87 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Paycom Software during the first quarter worth approximately $35,000. Institutional investors own 87.77% of the company's stock.

Paycom Software Trading Down 2.2%

Shares of NYSE:PAYC traded down $5.01 during midday trading on Friday, reaching $226.53. The company had a trading volume of 580,497 shares, compared to its average volume of 463,397. The company's 50 day moving average price is $239.49 and its 200 day moving average price is $226.47. The stock has a market cap of $13.11 billion, a P/E ratio of 32.32, a P/E/G ratio of 2.49 and a beta of 0.81. Paycom Software, Inc. has a 52-week low of $152.46 and a 52-week high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $522.92 million. During the same period in the prior year, the business posted $2.59 earnings per share. The company's revenue was up 6.1% on a year-over-year basis. Research analysts forecast 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. 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 0.7%. The ex-dividend date was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is presently 21.40%.

Insider Buying and Selling at Paycom Software

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PAYC shares. KeyCorp boosted their price target on shares of Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Barclays upped their price target 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. Stifel Nicolaus upped their price target 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. Piper Sandler increased their target price on shares of 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 increased their target price on shares of Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $226.90.

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.