Voloridge Investment Management LLC Sells 318,520 Shares of Paycom Software, Inc. (NYSE:PAYC)

Voloridge Investment Management LLC reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 71.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 127,649 shares of the software maker's stock after selling 318,520 shares during the period. Voloridge Investment Management LLC owned approximately 0.22% of Paycom Software worth $26,164,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PAYC. Glass Jacobson Investment Advisors llc increased its position 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 acquiring an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Paycom Software during the 4th quarter worth about $30,000. IFP Advisors Inc increased its holdings in Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock worth $43,000 after purchasing an additional 178 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Paycom Software in the 4th quarter valued at about $61,000. Finally, Blue Trust Inc. lifted its holdings in shares of Paycom Software by 33.3% in the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock valued at $72,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PAYC shares. BMO Capital Markets upped their price objective on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a research report 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. Piper Sandler upped their price target on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Stifel Nicolaus lifted their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Finally, KeyCorp boosted their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $226.90.

Insider Activity at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the transaction, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This represents a 9.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the sale, the chief executive officer now owns 3,307,249 shares of the company's stock, valued at approximately $805,381,276.48. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 149,426 shares of company stock worth $36,577,802 in the last ninety days. 10.90% of the stock is owned by company insiders.

Paycom Software Price Performance

PAYC stock traded up $2.60 during midday trading on Tuesday, reaching $260.13. 123,705 shares of the company were exchanged, compared to its average volume of 698,300. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $262.80. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The business has a 50-day moving average price of $228.25 and a two-hundred day moving average price of $219.78.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its 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 net margin of 26.66% and a return on equity of 33.53%. The company had revenue of $530.50 million during the quarter, compared to analysts' expectations of $522.92 million. During the same quarter last year, the company posted $2.59 EPS. Paycom Software's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

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

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.