Paycom Software, Inc. (NYSE:PAYC) Director Sells $109,110.00 in Stock

Paycom Software, Inc. (NYSE:PAYC) Director J C. Watts, Jr. sold 500 shares of the 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 approximately $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Paycom Software Trading Up 1.3 %

NYSE PAYC opened at $219.19 on Friday. The company has a fifty day simple moving average of $208.01 and a two-hundred day simple moving average of $195.70. The stock has a market cap of $12.55 billion, a P/E ratio of 24.63, a P/E/G ratio of 2.40 and a beta of 1.15. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. As a group, sell-side analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a $0.375 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.68%. Paycom Software’s dividend payout ratio is currently 16.85%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sylebra Capital LLC raised its holdings in shares of Paycom Software by 63.8% during the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker’s stock worth $658,996,000 after purchasing an additional 1,252,617 shares during the last quarter. FMR LLC raised its holdings in shares of Paycom Software by 137.8% during the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock worth $491,201,000 after purchasing an additional 1,388,533 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Paycom Software by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker’s stock worth $310,245,000 after purchasing an additional 89,848 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Paycom Software by 10.9% during the fourth quarter. Northern Trust Corp now owns 724,016 shares of the software maker’s stock worth $148,402,000 after purchasing an additional 70,897 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Paycom Software by 1.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock worth $104,524,000 after purchasing an additional 6,488 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PAYC. TD Cowen increased their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. raised their target price on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Mizuho raised their target price on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Barclays lowered their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $209.22.

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.