ProShare Advisors LLC Sells 6,317 Shares of Paycom Software, Inc. (NYSE:PAYC)

ProShare Advisors LLC decreased its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 47.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,064 shares of the software maker's stock after selling 6,317 shares during the quarter. ProShare Advisors LLC's holdings in Paycom Software were worth $1,448,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Paycom Software by 0.6% in the 3rd quarter. Barclays PLC now owns 109,636 shares of the software maker's stock valued at $18,261,000 after acquiring an additional 617 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Paycom Software by 317.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,091 shares of the software maker's stock valued at $1,044,000 after acquiring an additional 3,871 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Paycom Software by 7.7% during the fourth quarter. Park Avenue Securities LLC now owns 2,950 shares of the software maker's stock worth $605,000 after purchasing an additional 212 shares during the period. Atomi Financial Group Inc. bought a new position in Paycom Software during the fourth quarter worth about $246,000. Finally, JBGlobal.com LLC bought a new position in Paycom Software during the fourth quarter worth about $285,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PAYC shares. Barclays lifted their price target on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Stifel Nicolaus lifted their price target on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Piper Sandler lifted their price target on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $226.90.

Paycom Software Trading Up 0.5%

Shares of NYSE:PAYC traded up $1.34 during trading on Tuesday, reaching $258.87. 85,304 shares of the stock were exchanged, compared to its average volume of 698,179. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $262.80. The firm has a market cap of $14.98 billion, a PE ratio of 29.09, a PEG ratio of 2.40 and a beta of 0.80. The stock has a 50-day moving average price of $228.25 and a 200-day moving average price of $219.78.

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 analysts' consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The company had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. During the same period in the previous year, the business earned $2.59 earnings per share. The firm's quarterly revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.375 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a yield of 0.58%. Paycom Software's payout ratio is 21.40%.

Insider Buying and Selling at Paycom Software

In other news, insider Bradley Scott Smith sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now directly owns 28,733 shares in the company, valued at approximately $5,775,620.33. This trade represents a 9.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chad R. Richison sold 26,426 shares of the firm's stock in a transaction that occurred 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 owns 3,277,249 shares in the company, valued at approximately $837,402,664.48. The trade was a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 149,426 shares of company stock valued at $36,577,802 in the last ninety days. 10.90% of the stock is currently owned by company insiders.

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.