Bayesian Capital Management LP Has $276,000 Stake in Paycom Software, Inc. (NYSE:PAYC)

Bayesian Capital Management LP lowered its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 83.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,348 shares of the software maker's stock after selling 6,752 shares during the quarter. Bayesian Capital Management LP's holdings in Paycom Software were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Private Trust Co. NA boosted its stake in Paycom Software by 9.3% during the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock valued at $118,000 after buying an additional 49 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock worth $602,000 after purchasing an additional 51 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Paycom Software by 1.1% in the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker's stock worth $1,128,000 after purchasing an additional 60 shares in the last quarter. Michael S. Ryan Inc. lifted its stake in Paycom Software by 2.5% during the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker's stock valued at $573,000 after purchasing an additional 68 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its holdings in Paycom Software by 0.7% during the fourth quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker's stock worth $2,192,000 after buying an additional 72 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Stock Performance

PAYC traded up $3.35 during trading on Monday, reaching $256.05. 398,218 shares of the stock were exchanged, compared to its average volume of 700,710. The stock's 50 day moving average price is $217.84 and its two-hundred day moving average price is $215.32. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $259.30. The stock has a market cap of $14.81 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million during 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%. Paycom Software's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $2.59 earnings per share. Equities research analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.59%. Paycom Software's dividend payout ratio is currently 21.40%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday. Piper Sandler raised their price target on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research note on Thursday. 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 report on Thursday. Stifel Nicolaus boosted their price target on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday. Finally, Barclays raised their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $226.90.

Insider Activity

In other news, Director J C. Watts, Jr. sold 500 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total value of $109,110.00. Following the transaction, the director now owns 7,730 shares of the company's stock, valued at approximately $1,686,840.60. This represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chad R. Richison sold 120,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 3,307,249 shares in the company, valued at approximately $805,381,276.48. This trade represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,100 shares of company stock valued at $30,698,424 over the last ninety days. 10.90% of the stock is currently owned by company insiders.

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.