Vanguard Group Inc. Sells 158,330 Shares of Paycom Software, Inc. (NYSE:PAYC)

Vanguard Group Inc. cut its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,457,923 shares of the software maker's stock after selling 158,330 shares during the quarter. Vanguard Group Inc. owned about 9.43% of Paycom Software worth $1,192,447,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Baillie Gifford & Co. increased its stake in Paycom Software by 1,918.4% in the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker's stock worth $346,180,000 after purchasing an additional 1,505,990 shares in the last quarter. Sylebra Capital LLC increased its stake in Paycom Software by 63.8% in the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock worth $658,996,000 after purchasing an additional 1,252,617 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Paycom Software in the 4th quarter worth about $60,882,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Paycom Software in the 4th quarter worth about $57,068,000. Finally, GAMMA Investing LLC increased its stake in Paycom Software by 33,661.7% in the 1st quarter. GAMMA Investing LLC now owns 197,506 shares of the software maker's stock worth $43,151,000 after purchasing an additional 196,921 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, COO Randall Peck sold 890 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total value of $234,256.90. Following the sale, the chief operating officer directly owned 49,394 shares in the company, valued at $13,000,994.74. This represents a 1.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 1,500 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the sale, the insider owned 27,233 shares in the company, valued at $6,807,160.68. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,590 shares of company stock worth $6,761,837 over the last three months. Company insiders own 10.90% of the company's stock.

Wall Street Analyst Weigh In

PAYC has been the topic of a number of analyst reports. Barclays lifted their price target on Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. BMO Capital Markets boosted their price target on Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. KeyCorp boosted their price target on Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Stifel Nicolaus boosted their target price on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald started coverage on Paycom Software in a report on Thursday. They issued a "neutral" rating and a $230.00 target price for the company. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $234.36.

Paycom Software Price Performance

Shares of NYSE PAYC traded down $5.45 during trading hours on Thursday, reaching $216.04. The stock had a trading volume of 458,495 shares, compared to its average volume of 626,835. The business's fifty day moving average is $233.76 and its two-hundred day moving average is $227.26. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.43 and a beta of 0.81. Paycom Software, Inc. has a twelve month low of $153.08 and a twelve month high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.28. The business had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%. Paycom Software's revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 earnings per share. Sell-side analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 25th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 25th. Paycom Software's dividend payout ratio is 20.30%.

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.