Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd reduced its stake in Paycom Software by 8.8%, selling 2,200 shares, bringing its total holdings to 22,758 shares worth approximately $4.98 million.
• Paycom Software's CEO Chad R. Richison sold 120,000 shares for $29.22 million, resulting in a decrease of 3.50% in his ownership, while the COO also made a smaller sale.
• Recent research from analysts has adjusted price targets for Paycom, with estimates ranging from $215 to $270, reflecting a general consensus of a "hold" rating for the stock.

Mediolanum International Funds Ltd decreased its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 8.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,758 shares of the software maker's stock after selling 2,200 shares during the quarter. Mediolanum International Funds Ltd's holdings in Paycom Software were worth $4,978,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAYC. Glass Jacobson Investment Advisors llc lifted its holdings 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 acquiring an additional 112 shares during the period. von Borstel & Associates Inc. acquired a new position in Paycom Software in the first quarter valued at approximately $27,000. Golden State Wealth Management LLC lifted its holdings in Paycom Software by 112.3% in the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock valued at $30,000 after acquiring an additional 73 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Paycom Software by 135.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after acquiring an additional 87 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in Paycom Software in the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of analyst reports. KeyCorp boosted their price target on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Piper Sandler boosted their price objective on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. BMO Capital Markets boosted their price objective on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Stifel Nicolaus boosted their price objective on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $226.90.

Paycom Software Stock Performance

Shares of PAYC traded down $0.29 during trading hours on Thursday, hitting $235.29. 179,971 shares of the stock were exchanged, compared to its average volume of 611,685. Paycom Software, Inc. has a 12-month low of $152.46 and a 12-month high of $267.76. The company has a market cap of $13.61 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.62 and a beta of 0.77. The stock's 50-day moving average price is $240.71 and its two-hundred day moving average price is $225.95.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 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 analysts' expectations of $522.92 million. During the same period in the previous year, the business earned $2.59 earnings per share. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed 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. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is currently 21.40%.

Insiders Place Their Bets

In other Paycom Software news, COO Randall Peck sold 890 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the transaction, the chief operating officer owned 49,394 shares of the company's stock, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the transaction, the insider directly owned 27,233 shares in the company, 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. Over the last 90 days, insiders have sold 172,016 shares of company stock valued at $42,736,608. 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.