Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC cut its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 21.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,041 shares of the software maker's stock after selling 1,928 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Paycom Software were worth $1,443,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PAYC. Glass Jacobson Investment Advisors llc boosted its position in Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after purchasing an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of Paycom Software during the 4th quarter valued at approximately $30,000. IFP Advisors Inc grew its stake in Paycom Software by 635.7% in the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock valued at $43,000 after acquiring an additional 178 shares during the period. Blue Trust Inc. increased its holdings in Paycom Software by 33.3% in the 4th 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. Finally, Wilmington Savings Fund Society FSB acquired a new position in Paycom Software during the third quarter worth $79,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PAYC shares. Stifel Nicolaus raised their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday. Piper Sandler lifted 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. Barclays boosted 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. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday. Finally, KeyCorp upped their target price on shares of Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $226.90.

Paycom Software Trading Up 1.0%

PAYC stock traded up $2.65 during midday trading on Monday, hitting $255.35. 123,061 shares of the company's stock were exchanged, compared to its average volume of 699,582. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $259.30. The stock has a market capitalization of $14.77 billion, a PE ratio of 28.67, a P/E/G ratio of 2.40 and a beta of 0.80. The business has a 50-day simple moving average of $217.84 and a two-hundred day simple moving average of $215.32.

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 for the quarter, topping the consensus estimate of $2.62 by $0.18. The company had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Paycom Software's revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 earnings per share. As a group, research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Tuesday, May 27th. Paycom Software's dividend payout ratio is presently 16.85%.

Insider Activity

In related news, CEO Chad R. Richison sold 120,000 shares of the business's 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 now directly owns 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the firm's stock in a transaction dated 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 directly owns 7,730 shares in the company, valued at approximately $1,686,840.60. The trade was a 6.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,100 shares of company stock worth $30,698,424. 10.90% of the stock is currently owned by corporate insiders.

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.