Paycom Software, Inc. $PAYC is Sylebra Capital LLC's Largest Position

Key Points

• Sylebra Capital LLC reduced its holdings in Paycom Software by 21%, now owning 1,549,872 shares worth approximately $338.62 million, making it the firm's largest stock position.
• Paycom Software recently reported positive earnings, with a EPS of $2.06 exceeding estimates and revenues of $483.60 million, reflecting a 10.5% year-over-year increase.
• Insiders own 10.90% of Paycom's stock, with one insider recently selling 1,500 shares for nearly $375,000, indicating potential changes in investment sentiment.

Sylebra Capital LLC lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,549,872 shares of the software maker's stock after selling 412,596 shares during the period. Paycom Software accounts for 17.1% of Sylebra Capital LLC's investment portfolio, making the stock its biggest holding. Sylebra Capital LLC owned approximately 2.68% of Paycom Software worth $338,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. lifted its stake in Paycom Software by 1,918.4% in the first quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker's stock valued at $346,180,000 after purchasing an additional 1,505,990 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Paycom Software in the first quarter valued at $114,440,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Paycom Software in the fourth quarter valued at $60,882,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Paycom Software during the 4th quarter valued at $57,068,000. Finally, GAMMA Investing LLC grew its stake in shares of Paycom Software by 33,661.7% during the 1st quarter. GAMMA Investing LLC now owns 197,506 shares of the software maker's stock worth $43,151,000 after acquiring an additional 196,921 shares during the period. Institutional investors own 87.77% of the company's stock.

Paycom Software Trading Down 0.9%

Shares of PAYC stock traded down $2.04 during trading hours on Tuesday, reaching $222.26. The stock had a trading volume of 589,424 shares, compared to its average volume of 593,717. The stock's fifty day simple moving average is $227.53 and its 200 day simple moving average is $229.54. The firm has a market capitalization of $12.86 billion, a PE ratio of 30.08, a PEG 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.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results 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 business had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. During the same quarter in the prior year, the firm posted $1.62 EPS. Paycom Software's revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

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

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of research reports. Cantor Fitzgerald initiated coverage on Paycom Software in a research note on Thursday, August 14th. They issued a "neutral" rating and a $230.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Barclays upped their price target on shares of Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. KeyCorp lifted their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets boosted their target price on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $234.36.

Insider Transactions at Paycom Software

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 stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the sale, the insider owned 27,233 shares of the company's stock, valued at $6,807,160.68. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate 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.