Spectrum Asset Management Inc. NB CA Lowers Holdings in Paycom Software, Inc. (NYSE:PAYC)

Spectrum Asset Management Inc. NB CA trimmed its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 42.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,538 shares of the software maker's stock after selling 1,843 shares during the quarter. Spectrum Asset Management Inc. NB CA's holdings in Paycom Software were worth $555,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PAYC. Glass Jacobson Investment Advisors llc raised its holdings in shares of Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after acquiring an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Paycom Software in the 4th quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Paycom Software by 135.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after purchasing an additional 87 shares during the last quarter. Putney Financial Group LLC acquired a new position in shares of Paycom Software during the 4th quarter worth approximately $39,000. Finally, IFP Advisors Inc grew its position in shares of Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock valued at $43,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 26,426 shares of Paycom Software stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the transaction, the chief executive officer now owns 3,277,249 shares of the company's stock, valued at $837,402,664.48. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Randall Peck sold 890 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the transaction, the chief operating officer now owns 49,394 shares in the company, valued at approximately $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 170,516 shares of company stock worth $42,361,668 in the last ninety days. 10.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PAYC has been the topic of a number of recent research reports. BMO Capital Markets boosted their price objective on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. Wall Street Zen cut shares of Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Stifel Nicolaus boosted their target price 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. Finally, Barclays increased their price target 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. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $226.90.

Paycom Software Price Performance

Shares of PAYC traded down $1.01 during mid-day trading on Thursday, reaching $250.79. The company's stock had a trading volume of 685,798 shares, compared to its average volume of 674,988. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $270.20. The stock has a market cap of $14.51 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81. The company's 50 day moving average is $238.25 and its 200 day moving average is $222.79.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The firm had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. During the same period in the prior year, the company posted $2.59 earnings per share. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is 21.40%.

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.