Royal Bank of Canada Sells 10,263 Shares of Paycom Software, Inc. (NYSE:PAYC)

Royal Bank of Canada decreased its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 234,443 shares of the software maker's stock after selling 10,263 shares during the quarter. Royal Bank of Canada owned about 0.41% of Paycom Software worth $48,054,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC grew its position in shares of Paycom Software by 14.0% during the 4th quarter. Rafferty Asset Management LLC now owns 7,767 shares of the software maker's stock worth $1,592,000 after buying an additional 955 shares during the period. Quantinno Capital Management LP grew its position in shares of Paycom Software by 14.5% during the 4th quarter. Quantinno Capital Management LP now owns 21,890 shares of the software maker's stock worth $4,487,000 after buying an additional 2,770 shares during the period. Mufg Securities Americas Inc. acquired a new stake in shares of Paycom Software during the 4th quarter worth approximately $147,000. Nissay Asset Management Corp Japan ADV grew its position in shares of Paycom Software by 1.2% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,357 shares of the software maker's stock worth $1,314,000 after buying an additional 77 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of Paycom Software by 5.4% during the 4th quarter. Nuveen Asset Management LLC now owns 125,919 shares of the software maker's stock worth $25,810,000 after buying an additional 6,415 shares during the period. Institutional investors own 87.77% of the company's stock.

Insider Buying and Selling

In related news, insider Bradley Scott Smith sold 3,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the transaction, the insider now directly owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. The trade was a 9.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 120,000 shares of the business's stock in a transaction dated 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 now directly owns 3,307,249 shares in the company, valued at $805,381,276.48. This trade represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 149,426 shares of company stock valued at $36,577,802. 10.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PAYC. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. BMO Capital Markets lifted their price target on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Barclays lifted their price target on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" 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 MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $226.90.

Paycom Software Stock Performance

PAYC traded up $1.34 during mid-day trading on Tuesday, reaching $258.87. 85,304 shares of the stock were exchanged, compared to its average volume of 698,181. The stock has a market capitalization of $14.98 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The company has a 50 day moving average price of $228.25 and a two-hundred day moving average price of $219.78. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $262.80.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.18. The firm had revenue of $530.50 million for the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.59 EPS. Sell-side analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is currently 21.40%.

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.