Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP decreased its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 34.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,034 shares of the software maker's stock after selling 42,690 shares during the period. Two Sigma Investments LP owned about 0.14% of Paycom Software worth $16,405,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PAYC. FMR LLC increased its holdings in Paycom Software by 137.8% in the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock worth $491,201,000 after acquiring an additional 1,388,533 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Paycom Software by 1,153.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock valued at $82,375,000 after purchasing an additional 369,825 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Paycom Software during the fourth quarter worth about $63,923,000. Strategic Financial Concepts LLC purchased a new stake in shares of Paycom Software during the fourth quarter worth about $42,893,000. Finally, Norges Bank acquired a new position in shares of Paycom Software during the 4th quarter worth about $21,510,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PAYC shares. Wall Street Zen cut Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Stifel Nicolaus upped their price target on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Barclays raised their price objective 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. Finally, JPMorgan Chase & Co. upped their price target on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $226.90.

Paycom Software Price Performance

Shares of PAYC traded down $3.59 during midday trading on Friday, reaching $257.91. 412,519 shares of the stock were exchanged, compared to its average volume of 700,583. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $262.80. The company has a market capitalization of $14.92 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.40 and a beta of 0.80. The business's 50-day moving average price is $227.45 and its 200 day moving average price is $219.63.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $522.92 million. During the same quarter last year, the business posted $2.59 EPS. The firm's quarterly 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 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

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

Insider Activity at Paycom Software

In other news, Director J C. Watts, Jr. sold 500 shares of the business's stock in a transaction that occurred 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 transaction, the director now owns 7,730 shares of the company's stock, valued at approximately $1,686,840.60. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction 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 sale, the insider now directly owns 28,733 shares of the company's stock, 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 a total of 149,926 shares of company stock worth $36,686,912 in the last 90 days. 10.90% of the stock is owned by insiders.

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.