Paycom Software, Inc. (NYSE:PAYC) Stake Reduced by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC cut its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 62.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,765 shares of the software maker's stock after selling 4,670 shares during the period. Verdence Capital Advisors LLC's holdings in Paycom Software were worth $604,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in shares of Paycom Software during the first quarter worth approximately $27,000. Glass Jacobson Investment Advisors llc increased its stake in shares of Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after buying an additional 112 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Paycom Software by 112.3% during the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after buying an additional 73 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Paycom Software during the fourth quarter worth approximately $30,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after buying an additional 87 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the sale, the insider directly owned 27,233 shares in the company, valued at $6,807,160.68. The trade was a 5.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Randall Peck sold 890 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the sale, the chief operating officer owned 49,394 shares of the company's stock, valued at $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,016 shares of company stock valued at $42,736,608. Corporate insiders own 10.90% of the company's stock.

Paycom Software Stock Performance

Paycom Software stock traded up $5.09 during midday trading on Friday, reaching $229.81. 481,404 shares of the company were exchanged, compared to its average volume of 652,155. The firm's 50-day simple moving average is $244.39 and its 200-day simple moving average is $224.13. Paycom Software, Inc. has a 1 year low of $152.46 and a 1 year high of $267.76. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 2.53 and a beta of 0.77.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share 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 analyst estimates of $522.92 million. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The company's revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.59 EPS. On average, analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is presently 21.40%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp upped their target price on shares of Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. BMO Capital Markets increased their price objective on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Piper Sandler increased their price target on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Barclays raised their target price on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus raised their target price on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $226.90.

About Paycom Software

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.