Penserra Capital Management LLC Has $319,000 Holdings in Paycom Software, Inc. (NYSE:PAYC)

Penserra Capital Management LLC boosted its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 1,087.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,461 shares of the software maker's stock after purchasing an additional 1,338 shares during the quarter. Penserra Capital Management LLC's holdings in Paycom Software were worth $319,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new stake in Paycom Software in the 4th quarter valued at $7,142,000. Glenview Trust co increased its holdings in Paycom Software by 27.1% in the 4th quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock valued at $2,520,000 after buying an additional 2,625 shares during the period. SG Americas Securities LLC increased its holdings in Paycom Software by 57.1% in the 1st quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker's stock valued at $587,000 after buying an additional 976 shares during the period. GAMMA Investing LLC increased its holdings in Paycom Software by 54.5% in the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker's stock valued at $198,000 after buying an additional 319 shares during the period. Finally, American Century Companies Inc. increased its holdings in Paycom Software by 43.0% in the 4th quarter. American Century Companies Inc. now owns 52,755 shares of the software maker's stock valued at $10,813,000 after buying an additional 15,852 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Down 4.0%

Shares of NYSE PAYC opened at $220.15 on Friday. The firm's 50-day simple moving average is $245.69 and its 200 day simple moving average is $223.53. The company has a market cap of $12.74 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 2.53 and a beta of 0.77. Paycom Software, Inc. has a 12-month low of $144.60 and a 12-month high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. The business had revenue of $530.50 million for the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.59 EPS. On average, equities analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.375 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.68%. Paycom Software's dividend payout ratio is currently 21.40%.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 23,200 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total value of $6,152,640.00. Following the completion of the sale, the chief executive officer directly owned 3,224,049 shares of the company's stock, valued at $855,017,794.80. This represents a 0.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $374,940.00. Following the completion of the sale, the insider directly owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 172,016 shares of company stock valued at $42,736,608. 10.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on PAYC. BMO Capital Markets boosted their price target on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Stifel Nicolaus boosted their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Barclays boosted their target price on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Finally, KeyCorp boosted their target price on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Paycom Software presently has a consensus rating of "Hold" and an average target price of $226.90.

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.

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