Logan Capital Management Inc. Cuts Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Logan Capital Management Inc. cut its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 4.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 40,744 shares of the software maker’s stock after selling 1,839 shares during the quarter. Logan Capital Management Inc.’s holdings in Paycom Software were worth $8,351,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PAYC. Glass Jacobson Investment Advisors llc grew 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 valued at $26,000 after acquiring an additional 112 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in shares of Paycom Software in the 4th quarter worth about $30,000. IFP Advisors Inc lifted its stake in shares of 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 purchasing an additional 178 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Paycom Software during the 4th quarter worth about $61,000. Finally, Blue Trust Inc. increased its position in Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after purchasing an additional 88 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. KeyCorp lifted their price target on shares of Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday. JPMorgan Chase & Co. increased their price target on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Stifel Nicolaus upped their target price on Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, BMO Capital Markets increased their target price on Paycom Software from $215.00 to $244.00 and gave the company a “market perform” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $226.90.

Paycom Software Stock Up 1.4%

PAYC stock opened at $252.95 on Monday. The stock’s 50 day moving average is $217.84 and its two-hundred day moving average is $215.32. The company has a market capitalization of $14.63 billion, a PE ratio of 28.42, a P/E/G ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $256.99.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The business had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same quarter in the prior year, the business posted $2.59 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, May 27th. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Insider Activity

In other news, CEO Chad R. Richison sold 120,000 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the transaction, the chief executive officer now owns 3,307,249 shares in the company, valued at approximately $805,381,276.48. This represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Randall Peck sold 3,600 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 127,100 shares of company stock valued at $30,698,424. Company insiders own 10.90% of the company’s stock.

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.