Pallas Capital Advisors LLC Sells 1,368 Shares of Paycom Software, Inc. (NYSE:PAYC)

Pallas Capital Advisors LLC trimmed its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 43.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,788 shares of the software maker's stock after selling 1,368 shares during the period. Pallas Capital Advisors LLC's holdings in Paycom Software were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PAYC. Brighton Jones LLC bought a new position in Paycom Software during the 4th quarter valued at $638,000. Yousif Capital Management LLC raised its holdings in shares of Paycom Software by 24.1% in the fourth quarter. Yousif Capital Management LLC now owns 7,995 shares of the software maker's stock valued at $1,639,000 after purchasing an additional 1,555 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Paycom Software by 8.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 106,883 shares of the software maker's stock valued at $21,908,000 after purchasing an additional 8,327 shares in the last quarter. Empowered Funds LLC boosted its holdings in Paycom Software by 156.9% during the fourth quarter. Empowered Funds LLC now owns 6,478 shares of the software maker's stock worth $1,328,000 after purchasing an additional 3,956 shares during the last quarter. Finally, Stephens Inc. AR grew its position in Paycom Software by 3.2% in the 4th quarter. Stephens Inc. AR now owns 8,712 shares of the software maker's stock worth $1,786,000 after purchasing an additional 271 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Performance

NYSE PAYC traded down $6.60 on Friday, hitting $244.25. The stock had a trading volume of 552,422 shares, compared to its average volume of 673,809. The firm has a 50-day moving average of $240.37 and a 200-day moving average of $222.87. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $267.76. The company has a market capitalization of $14.13 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last released 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. The firm had revenue of $530.50 million for the quarter, compared to analysts' expectations of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The company's revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 EPS. As a group, research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share 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. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.61%. Paycom Software's payout ratio is 21.40%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Piper Sandler boosted their target price on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Wall Street Zen lowered Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Barclays boosted their price target on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus raised their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $226.90.

Insider Activity

In related news, CEO Chad R. Richison sold 26,426 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the completion of the sale, the chief executive officer now directly owns 3,277,249 shares in the company, valued at $837,402,664.48. This represents a 0.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $234,256.90. Following the sale, the chief operating officer now directly owns 49,394 shares of the company's stock, valued at $13,000,994.74. The trade was a 1.77% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,516 shares of company stock valued at $42,361,668. 10.90% of the stock is currently owned by insiders.

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.