Tidal Investments LLC Sells 2,555 Shares of Paycom Software, Inc. (NYSE:PAYC)

Tidal Investments LLC cut its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 15.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 14,064 shares of the software maker's stock after selling 2,555 shares during the period. Tidal Investments LLC's holdings in Paycom Software were worth $2,883,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock valued at $491,201,000 after buying an additional 1,388,533 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Paycom Software by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker's stock valued at $310,245,000 after buying an additional 89,848 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Paycom Software by 10.9% during the 4th quarter. Northern Trust Corp now owns 724,016 shares of the software maker's stock valued at $148,402,000 after buying an additional 70,897 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Paycom Software by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock valued at $102,090,000 after buying an additional 11,611 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Paycom Software by 1,153.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock valued at $82,375,000 after buying an additional 369,825 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Price Performance

Shares of PAYC stock traded down $3.59 on Friday, hitting $257.91. 412,519 shares of the stock traded hands, compared to its average volume of 700,583. The company has a market capitalization of $14.92 billion, a PE ratio of 28.98, a PEG ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $262.80. The company's fifty day moving average is $227.45 and its 200 day moving average is $219.71.

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

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Tuesday, May 27th. Paycom Software's dividend payout ratio is presently 21.40%.

Insiders Place Their Bets

In other Paycom Software news, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $218.22, for a total value of $109,110.00. Following the sale, the director now directly owns 7,730 shares of the company's stock, valued at $1,686,840.60. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chad R. Richison sold 120,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total value of $29,222,400.00. Following the transaction, the chief executive officer now directly owns 3,307,249 shares in the company, valued at $805,381,276.48. This trade represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 149,926 shares of company stock valued at $36,686,912 over the last three months. Company insiders own 10.90% of the company's stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several research analyst reports. BMO Capital Markets increased their target price on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research note on Thursday, May 8th. Stifel Nicolaus increased their target price on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Piper Sandler increased their target price on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Wall Street Zen cut Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, KeyCorp increased their target price on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $226.90.

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.