Worldquant Millennium Advisors LLC Sells 22,538 Shares of Paycom Software, Inc. (NYSE:PAYC)

Worldquant Millennium Advisors LLC lowered its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 65.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,002 shares of the software maker's stock after selling 22,538 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Paycom Software were worth $2,460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc boosted its stake in Paycom Software by 746.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after purchasing an additional 112 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in Paycom Software during the 4th quarter valued at $30,000. IFP Advisors Inc boosted its position in shares of Paycom Software by 635.7% in 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 during the last quarter. Parvin Asset Management LLC bought a new position in Paycom Software during the fourth quarter worth about $61,000. Finally, Blue Trust Inc. lifted its holdings in Paycom Software by 33.3% during the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock worth $72,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 26,426 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the sale, the chief executive officer now directly owns 3,277,249 shares in the company, valued at $837,402,664.48. This trade represents a 0.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the firm's stock in a transaction 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 sale, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 149,426 shares of company stock worth $36,577,802. Company insiders own 10.90% of the company's stock.

Paycom Software Stock Performance

PAYC stock traded up $0.01 during midday trading on Wednesday, reaching $261.27. 91,442 shares of the company's stock traded hands, compared to its average volume of 697,176. The company has a 50-day moving average price of $229.17 and a two-hundred day moving average price of $220.07. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $262.80. The firm has a market capitalization of $15.11 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $522.92 million. During the same period in the previous year, the business earned $2.59 earnings per share. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, May 27th. Paycom Software's dividend payout ratio is currently 21.40%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PAYC shares. BMO Capital Markets lifted their target price on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. KeyCorp boosted their price target on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Finally, Barclays increased their price target on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $226.90.

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.