BI Asset Management Fondsmaeglerselskab A S Sells 1,973 Shares of Paycom Software, Inc. $PAYC

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Paycom Software by 59.8%, holding 1,329 shares valued at approximately $290,000 at the end of the first quarter.
• Paycom Software reported earnings of $2.06 per share for the last quarter, beating estimates by $0.28, with revenues up 10.5% year-over-year to $483.60 million.
• The company declared a quarterly dividend of $0.375, representing a 0.6% yield, to be paid to investors of record on August 25th.

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 59.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,329 shares of the software maker's stock after selling 1,973 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Paycom Software were worth $290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SouthState Corp purchased a new stake in shares of Paycom Software in the 1st quarter valued at $27,000. von Borstel & Associates Inc. bought a new stake in shares of Paycom Software in the 1st quarter valued at about $27,000. Golden State Wealth Management LLC grew its position in Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after acquiring an additional 73 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Paycom Software by 135.9% in the 1st 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 during the period. Finally, Opal Wealth Advisors LLC bought a new stake in Paycom Software in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Up 0.0%

Shares of PAYC traded up $0.09 during trading hours on Friday, reaching $225.80. 40,427 shares of the company traded hands, compared to its average volume of 623,989. The company's fifty day moving average price is $228.57 and its two-hundred day moving average price is $228.71. The company has a market capitalization of $13.07 billion, a price-to-earnings ratio of 30.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.81. Paycom Software, Inc. has a 12 month low of $153.08 and a 12 month high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.28. The firm had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 EPS. On average, analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software's payout ratio is presently 20.30%.

Wall Street Analyst Weigh In

PAYC has been the topic of several analyst reports. KeyCorp lifted their target price on shares of Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. BMO Capital Markets boosted their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a research report on Thursday, August 7th. Piper Sandler raised 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. Finally, Stifel Nicolaus raised their target price on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $234.36.

Insider Activity

In other news, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chad R. Richison sold 23,200 shares of Paycom Software stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the sale, the chief executive officer directly owned 3,224,049 shares in the company, valued at $855,017,794.80. The trade was a 0.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,590 shares of company stock valued at $6,761,837. Corporate insiders own 10.90% of the company's stock.

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.