Quarry LP Sells 183 Shares of Paycom Software, Inc. (NYSE:PAYC)

Quarry LP reduced its position in Paycom Software, Inc. (NYSE:PAYC) by 45.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 218 shares of the software maker’s stock after selling 183 shares during the quarter. Quarry LP’s holdings in Paycom Software were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC boosted its position in shares of Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock valued at $491,201,000 after acquiring an additional 1,388,533 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Paycom Software by 1,153.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker’s stock valued at $82,375,000 after purchasing an additional 369,825 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Paycom Software in the 4th quarter worth approximately $63,923,000. Strategic Financial Concepts LLC bought a new position in shares of Paycom Software during the 4th quarter worth approximately $42,893,000. Finally, Norges Bank acquired a new stake in Paycom Software in the 4th quarter valued at $21,510,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Up 0.2 %

NYSE:PAYC opened at $227.62 on Friday. The stock’s fifty day simple moving average is $215.96 and its 200-day simple moving average is $212.15. The firm has a market capitalization of $13.17 billion, a P/E ratio of 25.58, a P/E/G ratio of 2.40 and a beta of 0.80. 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 earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. As a group, equities research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.375 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.66%. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Piper Sandler lifted their target price on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Stifel Nicolaus decreased their price target on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays cut their price objective on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average price target of $212.80.

Insider Transactions at Paycom Software

In related news, COO Randall Peck sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now directly owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. The trade was a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock valued at $1,476,024 over the last three months. 10.90% of the stock is currently owned by corporate insiders.

Paycom Software Company 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.