Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 506,846 shares of the software maker's stock after selling 24,836 shares during the quarter. Paycom Software comprises about 1.8% of Riverbridge Partners LLC's holdings, making the stock its 17th largest position. Riverbridge Partners LLC owned approximately 0.88% of Paycom Software worth $110,736,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Glass Jacobson Investment Advisors llc grew its holdings in Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after acquiring an additional 112 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in Paycom Software during the fourth quarter worth $30,000. MassMutual Private Wealth & Trust FSB grew its holdings in Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after acquiring an additional 87 shares during the period. Opal Wealth Advisors LLC acquired a new position in Paycom Software during the first quarter worth $35,000. Finally, Putney Financial Group LLC acquired a new position in Paycom Software during the fourth quarter worth $39,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Analysts Set New Price Targets

PAYC has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Barclays boosted their target price on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, Piper Sandler boosted their target price on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Paycom Software has a consensus rating of "Hold" and an average target price of $226.90.

Paycom Software Trading Down 0.4%

NYSE PAYC traded down $0.99 on Friday, hitting $231.84. 1,410,438 shares of the stock traded hands, compared to its average volume of 673,400. The stock has a 50-day moving average of $242.63 and a 200 day moving average of $223.08. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $267.76. The company has a market capitalization of $13.41 billion, a P/E ratio of 33.07, a price-to-earnings-growth ratio of 2.56 and a beta of 0.81.

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

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were paid 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 0.65%. Paycom Software's dividend payout ratio (DPR) is 21.40%.

Insider Buying and Selling

In related news, COO Randall Peck sold 890 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the sale, the chief operating officer now owns 49,394 shares of the company's stock, valued at $13,000,994.74. This trade represents a 1.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the sale, the chief executive officer now owns 3,307,249 shares in the company, valued at approximately $805,381,276.48. This represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 172,016 shares of company stock worth $42,736,608 over the last quarter. 10.90% of the stock is owned by company insiders.

Paycom Software 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.