Gotham Asset Management LLC Cuts Stock Holdings in Paycom Software, Inc. $PAYC

Key Points

• Gotham Asset Management LLC reduced its stake in Paycom Software by 5.9%, selling nearly 5,000 shares, and now owns approximately 0.14% of the company worth $17.31 million.
• Paycom Software's recent earnings report revealed an EPS of $2.06, exceeding analyst expectations of $1.78, with a revenue of $483.60 million up 10.5% year-over-year.
• The company announced a quarterly dividend of $0.375 per share, which will be paid on September 8th, representing an annualized yield of 0.7%.

Gotham Asset Management LLC cut its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,234 shares of the software maker's stock after selling 4,996 shares during the period. Gotham Asset Management LLC owned approximately 0.14% of Paycom Software worth $17,311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Greenline Partners LLC increased its position in shares of Paycom Software by 0.8% during the first quarter. Greenline Partners LLC now owns 26,422 shares of the software maker's stock worth $5,773,000 after acquiring an additional 217 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Paycom Software by 37.6% during the first quarter. Alliancebernstein L.P. now owns 82,565 shares of the software maker's stock worth $18,039,000 after acquiring an additional 22,572 shares in the last quarter. AQR Capital Management LLC grew its position in Paycom Software by 23.7% in the 1st quarter. AQR Capital Management LLC now owns 19,155 shares of the software maker's stock worth $4,136,000 after purchasing an additional 3,674 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in Paycom Software in the 1st quarter worth about $114,440,000. Finally, Federation des caisses Desjardins du Quebec grew its position in Paycom Software by 4,448.4% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 19,831 shares of the software maker's stock worth $4,334,000 after purchasing an additional 19,395 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Paycom Software Price Performance

NYSE PAYC traded down $2.04 on Tuesday, reaching $222.26. 589,424 shares of the company's stock traded hands, compared to its average volume of 626,475. The stock has a market cap of $12.86 billion, a PE ratio of 30.08, a P/E/G ratio of 2.46 and a beta of 0.81. Paycom Software, Inc. has a 12 month low of $158.03 and a 12 month high of $267.76. The stock has a 50-day simple moving average of $227.53 and a 200 day simple moving average of $229.54.

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

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, August 25th. Paycom Software's dividend payout ratio is presently 20.30%.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $249.96, for a total transaction of $374,940.00. Following the completion of the sale, the insider directly 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 filing with the SEC, which is available at this hyperlink. 10.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

PAYC has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a research report 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 stock a "market perform" rating in a research report on Thursday, August 7th. KeyCorp upped their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Cantor Fitzgerald initiated coverage on shares of Paycom Software in a research note on Thursday, August 14th. They issued a "neutral" rating and a $230.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $234.36.

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.