Two Sigma Advisers LP Reduces Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Two Sigma Advisers LP reduced its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 40.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 167,200 shares of the software maker's stock after selling 114,800 shares during the quarter. Two Sigma Advisers LP owned 0.29% of Paycom Software worth $34,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Proficio Capital Partners LLC purchased a new stake in shares of Paycom Software in the 4th quarter worth $7,142,000. Glenview Trust co grew its holdings in Paycom Software by 27.1% during the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock valued at $2,520,000 after purchasing an additional 2,625 shares during the period. Nisa Investment Advisors LLC increased its position in Paycom Software by 175.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,351 shares of the software maker's stock worth $1,507,000 after buying an additional 4,685 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Paycom Software by 43.0% in the fourth quarter. American Century Companies Inc. now owns 52,755 shares of the software maker's stock worth $10,813,000 after buying an additional 15,852 shares during the period. Finally, Jacksonville Wealth Management LLC bought a new position in shares of Paycom Software in the fourth quarter worth about $394,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Price Performance

Shares of PAYC stock opened at $260.22 on Wednesday. The business has a fifty day moving average of $224.74 and a 200 day moving average of $218.83. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth 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 $264.92.

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, beating the consensus estimate of $2.62 by $0.18. The business had revenue of $530.50 million for the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.59 EPS. As a group, equities research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

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

Analyst Ratings Changes

PAYC has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. BMO Capital Markets upped their price target on shares of Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a research report on Thursday, May 8th. Barclays increased their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Finally, Piper Sandler increased their price target on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $226.90.

Insider Activity

In other news, CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the sale, the chief executive officer now directly owns 3,307,249 shares of the company's stock, valued at $805,381,276.48. The trade was a 3.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bradley Scott Smith sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the transaction, the insider now owns 28,733 shares in the company, valued at approximately $5,775,620.33. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 153,526 shares of company stock worth $37,450,796 over the last three months. 10.90% of the stock is currently owned by corporate 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.

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