Man Group plc Sells 49,785 Shares of Paycom Software, Inc. (NYSE:PAYC)

Man Group plc lowered its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 36.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,024 shares of the software maker's stock after selling 49,785 shares during the period. Man Group plc owned approximately 0.15% of Paycom Software worth $17,427,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Glass Jacobson Investment Advisors llc raised its stake in Paycom Software by 746.7% in 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 in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Paycom Software in the fourth quarter worth about $30,000. IFP Advisors Inc raised its stake in Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock worth $43,000 after buying an additional 178 shares in the last quarter. Parvin Asset Management LLC bought a new position in Paycom Software in the fourth quarter worth about $61,000. Finally, Blue Trust Inc. boosted its position in shares of Paycom Software by 33.3% during 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. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com lowered Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. BMO Capital Markets lifted their price target 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. Stifel Nicolaus boosted their target price on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Finally, KeyCorp boosted their target price on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $226.90.

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction dated 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. This represents a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now owns 7,730 shares in the company, valued at $1,686,840.60. This represents a 6.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,526 shares of company stock valued at $37,450,796. 10.90% of the stock is owned by corporate insiders.

Paycom Software Trading Up 0.1%

Paycom Software stock traded up $0.29 during mid-day trading on Tuesday, hitting $260.22. The company's stock had a trading volume of 277,160 shares, compared to its average volume of 702,235. The firm has a market capitalization of $15.05 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $267.50. The stock's fifty day moving average is $223.59 and its two-hundred day moving average is $218.54.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share (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 analysts' expectations of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $2.59 earnings per share. On average, equities analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

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