Y Intercept Hong Kong Ltd Has $221,000 Stake in Paycom Software, Inc. (NYSE:PAYC)

Key Points

• Y Intercept Hong Kong Ltd significantly reduced its holdings in Paycom Software, Inc. by 91.1%, selling 10,356 shares and retaining only 1,013 shares worth $221,000.
Paycom Software reported a quarterly EPS of $2.80, exceeding consensus estimates, alongside a revenue of $530.50 million, which marks a 6.1% increase compared to the same quarter last year.
• Institutional investors hold 87.77% of Paycom's stock, with various hedge funds increasing their positions in the company during the first quarter.

Y Intercept Hong Kong Ltd trimmed its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 91.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,013 shares of the software maker's stock after selling 10,356 shares during the period. Y Intercept Hong Kong Ltd's holdings in Paycom Software were worth $221,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Kingsview Wealth Management LLC increased its position in Paycom Software by 8.4% during the first quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker's stock worth $323,000 after buying an additional 114 shares during the last quarter. SG Americas Securities LLC increased its position in Paycom Software by 57.1% during the first quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker's stock worth $587,000 after buying an additional 976 shares during the last quarter. GAMMA Investing LLC increased its position in Paycom Software by 54.5% during the first quarter. GAMMA Investing LLC now owns 904 shares of the software maker's stock worth $198,000 after buying an additional 319 shares during the last quarter. American Century Companies Inc. increased its position in Paycom Software by 43.0% during the fourth quarter. American Century Companies Inc. now owns 52,755 shares of the software maker's stock worth $10,813,000 after buying an additional 15,852 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Paycom Software by 11.9% in the first quarter. Rhumbline Advisers now owns 102,936 shares of the software maker's stock valued at $22,489,000 after purchasing an additional 10,908 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. KeyCorp upped their target price on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Stifel Nicolaus upped their target price on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Barclays increased their price target on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research 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 research report on Thursday, May 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $226.90.

Insider Activity

In related news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the sale, the insider directly owned 27,233 shares in the company, valued at $6,807,160.68. This represents a 5.22% decrease in their ownership of the stock. The transaction 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 the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total value of $29,222,400.00. Following the completion of the sale, the chief executive officer owned 3,307,249 shares of the company's stock, valued at $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. In the last ninety days, insiders sold 172,016 shares of company stock worth $42,736,608. Insiders own 10.90% of the company's stock.

Paycom Software Trading Down 2.2%

NYSE PAYC traded down $5.01 on Friday, hitting $226.53. 580,497 shares of the company's stock were exchanged, compared to its average volume of 463,397. Paycom Software, Inc. has a 52 week low of $152.46 and a 52 week high of $267.76. The stock has a market cap of $13.10 billion, a price-to-earnings ratio of 32.32, a P/E/G ratio of 2.55 and a beta of 0.81. The stock has a 50-day moving average of $240.12 and a 200-day moving average of $226.16.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The company had revenue of $530.50 million during the quarter, compared to analysts' expectations of $522.92 million. During the same period in the prior year, the company earned $2.59 EPS. Paycom Software's 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 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, May 27th. Paycom Software's dividend payout ratio is presently 21.40%.

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.