Paycom Software, Inc. $PAYC Shares Sold by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in Paycom Software, Inc. by 43% in Q1, selling 25,674 shares and ending with 34,100 shares valued at approximately $7.45 million.
• Paycom reported earnings of $2.06 per share for the last quarter, exceeding analysts' expectations, with a revenue of $483.60 million, a 10.5% increase year-over-year.
• The company announced a quarterly dividend of $0.375, translating to an annualized dividend of $1.50, with a dividend yield of 0.7%.

Canada Pension Plan Investment Board lowered its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 43.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,100 shares of the software maker's stock after selling 25,674 shares during the period. Canada Pension Plan Investment Board owned 0.06% of Paycom Software worth $7,450,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PAYC. Brooklyn Investment Group lifted its holdings in Paycom Software by 19.4% during the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker's stock worth $52,000 after buying an additional 39 shares during the last quarter. Commerce Bank raised its position in shares of Paycom Software by 2.2% during the 1st quarter. Commerce Bank now owns 2,351 shares of the software maker's stock worth $514,000 after acquiring an additional 50 shares in the last quarter. Allworth Financial LP lifted its stake in Paycom Software by 12.9% during the first quarter. Allworth Financial LP now owns 464 shares of the software maker's stock worth $105,000 after purchasing an additional 53 shares during the last quarter. US Bancorp DE boosted its holdings in Paycom Software by 0.5% in the first quarter. US Bancorp DE now owns 10,421 shares of the software maker's stock valued at $2,277,000 after purchasing an additional 57 shares in the last quarter. Finally, Salvus Wealth Management LLC increased its stake in Paycom Software by 4.9% in the first quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker's stock valued at $270,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Performance

Shares of Paycom Software stock opened at $219.91 on Wednesday. The company has a market capitalization of $12.73 billion, a P/E ratio of 29.76, a PEG ratio of 2.48 and a beta of 0.81. Paycom Software, Inc. has a 1 year low of $153.08 and a 1 year high of $267.76. The company's fifty day moving average is $228.04 and its two-hundred day moving average is $229.20.

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, topping the consensus estimate of $1.78 by $0.28. The business had revenue of $483.60 million during the quarter, compared to the consensus estimate of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The business's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. As a group, equities analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PAYC. Cantor Fitzgerald began coverage on shares of Paycom Software in a research report on Thursday, August 14th. They set a "neutral" rating and a $230.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on shares of Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. BMO Capital Markets upped 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 note on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Finally, KeyCorp boosted their target price on Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Paycom Software presently has an average rating of "Hold" and an average target price of $234.36.

Insider Activity

In other news, insider Bradley Scott Smith sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the completion of the sale, the insider owned 27,233 shares in the company, valued at $6,807,160.68. This represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.

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