Paycom Software, Inc. (NYSE:PAYC) Position Trimmed by Park Place Capital Corp

Park Place Capital Corp lessened its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 37.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 622 shares of the software maker’s stock after selling 378 shares during the quarter. Park Place Capital Corp’s holdings in Paycom Software were worth $124,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. HBK Sorce Advisory LLC grew its stake in Paycom Software by 5.9% during the 4th quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock valued at $204,000 after acquiring an additional 55 shares in the last quarter. Optas LLC grew its stake in shares of Paycom Software by 6.1% in the 1st quarter. Optas LLC now owns 1,059 shares of the software maker’s stock valued at $211,000 after buying an additional 61 shares in the last quarter. Bouvel Investment Partners LLC grew its stake in shares of Paycom Software by 1.0% in the 4th quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock valued at $1,329,000 after buying an additional 63 shares in the last quarter. Wahed Invest LLC grew its stake in shares of Paycom Software by 7.9% in the 4th quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock valued at $181,000 after buying an additional 64 shares in the last quarter. Finally, Court Place Advisors LLC grew its stake in shares of Paycom Software by 3.3% in the 4th quarter. Court Place Advisors LLC now owns 2,065 shares of the software maker’s stock valued at $427,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $140.46, for a total value of $273,897.00. Following the completion of the transaction, the chief executive officer now directly owns 3,041,258 shares in the company, valued at $427,175,098.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paycom Software news, insider Jason D. Clark sold 906 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $143.61, for a total value of $130,110.66. Following the sale, the insider now directly owns 43,367 shares in the company, valued at $6,227,934.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $140.46, for a total value of $273,897.00. Following the completion of the sale, the chief executive officer now owns 3,041,258 shares in the company, valued at $427,175,098.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,587 shares of company stock worth $4,546,080. 12.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, May 2nd. StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. Barclays lowered their price target on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Mizuho lowered their price target on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Finally, BMO Capital Markets reduced their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. Sixteen analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Paycom Software has an average rating of “Hold” and an average target price of $237.81.

Paycom Software Stock Down 0.5 %

Shares of PAYC stock traded down $0.74 during trading hours on Monday, reaching $142.30. 692,246 shares of the company’s stock were exchanged, compared to its average volume of 865,609. Paycom Software, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $374.04. The stock has a market capitalization of $8.27 billion, a P/E ratio of 17.33, a P/E/G ratio of 2.17 and a beta of 1.16. The business has a fifty day moving average price of $162.51 and a 200-day moving average price of $182.95.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. The business had revenue of $499.88 million during the quarter, compared to analyst estimates of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. As a group, research analysts expect that Paycom Software, Inc. will post 6.37 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.05%. Paycom Software’s payout ratio is 18.27%.

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.