Gotham Asset Management LLC Trims Holdings in Paycom Software, Inc. (NYSE:PAYC)

Gotham Asset Management LLC lessened its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,230 shares of the software maker's stock after selling 7,969 shares during the quarter. Gotham Asset Management LLC owned 0.15% of Paycom Software worth $17,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Graham Capital Management L.P. bought a new position in Paycom Software during the 4th quarter valued at about $839,000. Focus Partners Wealth purchased a new position in shares of Paycom Software during the fourth quarter valued at approximately $252,000. Fiduciary Trust Co lifted its position in Paycom Software by 1.6% during the fourth quarter. Fiduciary Trust Co now owns 4,495 shares of the software maker's stock valued at $921,000 after purchasing an additional 71 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Paycom Software by 9.3% in the fourth quarter. Frontier Capital Management Co. LLC now owns 64,607 shares of the software maker's stock worth $13,242,000 after purchasing an additional 5,472 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Paycom Software by 7.0% in the 4th quarter. Deutsche Bank AG now owns 221,229 shares of the software maker's stock worth $45,345,000 after purchasing an additional 14,396 shares during the period. Institutional investors own 87.77% of the company's stock.

Paycom Software Trading Up 0.7%

Shares of PAYC traded up $1.87 during trading hours on Tuesday, reaching $260.25. 535,336 shares of the stock traded hands, compared to its average volume of 703,085. The company has a market cap of $15.06 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The company's 50-day moving average price is $218.65 and its two-hundred day moving average price is $215.97. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $261.64.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 EPS 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 the consensus estimate of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The business's revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.59 earnings per share. On average, research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

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

Insider Transactions at Paycom Software

In other news, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the sale, the chief operating officer now directly owns 50,665 shares of the company's stock, valued at approximately $10,750,606.35. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 120,000 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was 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 now owns 3,307,249 shares in the company, valued at $805,381,276.48. This represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,100 shares of company stock valued at $30,698,424. 10.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on PAYC. Piper Sandler increased their price target on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. StockNews.com downgraded Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. raised their target price on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, KeyCorp boosted their target price on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Paycom Software presently has a consensus rating of "Hold" and an average target price of $226.90.

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.