Rafferty Asset Management LLC Sells 1,954 Shares of Paycom Software, Inc. $PAYC

Key Points

• Rafferty Asset Management LLC decreased its holdings in Paycom Software, Inc. by 25.2%, selling 1,954 shares and bringing its total to 5,813 shares worth approximately $1.27 million.
• Paycom Software recently reported earnings of $2.06 per share for the last quarter, which exceeded analyst estimates of $1.78, and showed a 10.5% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.375 per share, with a payout date on September 8th, indicating a 0.7% dividend yield.

Rafferty Asset Management LLC lessened its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 25.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,813 shares of the software maker's stock after selling 1,954 shares during the period. Rafferty Asset Management LLC's holdings in Paycom Software were worth $1,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Brighton Jones LLC acquired a new position in shares of Paycom Software in the fourth quarter valued at approximately $638,000. Integrated Wealth Concepts LLC raised its position in shares of Paycom Software by 12.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 1,396 shares of the software maker's stock valued at $286,000 after buying an additional 159 shares during the last quarter. Beacon Pointe Advisors LLC raised its position in shares of Paycom Software by 4.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 2,722 shares of the software maker's stock valued at $558,000 after buying an additional 127 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Paycom Software by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 39,917 shares of the software maker's stock valued at $8,182,000 after buying an additional 411 shares during the last quarter. Finally, Lido Advisors LLC acquired a new position in shares of Paycom Software in the fourth quarter valued at approximately $211,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Trading Up 0.4%

NYSE PAYC traded up $0.92 during trading hours on Wednesday, reaching $220.92. 785,397 shares of the company traded hands, compared to its average volume of 683,704. Paycom Software, Inc. has a 12 month low of $153.08 and a 12 month high of $267.76. The stock has a market capitalization of $12.79 billion, a PE ratio of 29.89, a PEG ratio of 2.48 and a beta of 0.81. The company has a 50 day moving average of $228.01 and a two-hundred day moving average of $229.14.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) 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 company had revenue of $483.60 million for the quarter, compared to the consensus estimate of $472.00 million. During the same period last year, the firm posted $1.62 EPS. The company's revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts anticipate 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 will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 25th. Paycom Software's dividend payout ratio (DPR) is 20.30%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Stifel Nicolaus upped their price target on shares of Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Piper Sandler upped their price target on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald assumed coverage on shares of Paycom Software in a research report on Thursday, August 14th. They set a "neutral" rating and a $230.00 price target for the company. One equities research analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $234.36.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the firm'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 transaction, the insider 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.