Shell Asset Management Co. Has $483,000 Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Shell Asset Management Co. trimmed its position in Paycom Software, Inc. (NYSE:PAYC) by 46.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,356 shares of the software maker’s stock after selling 2,069 shares during the quarter. Shell Asset Management Co.’s holdings in Paycom Software were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PAYC. Barclays PLC lifted its stake in shares of Paycom Software by 0.6% in the third quarter. Barclays PLC now owns 109,636 shares of the software maker’s stock worth $18,261,000 after buying an additional 617 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Paycom Software by 9.3% in the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after buying an additional 5,574 shares during the last quarter. Brookstone Capital Management acquired a new stake in shares of Paycom Software in the fourth quarter worth $206,000. Assenagon Asset Management S.A. lifted its stake in shares of Paycom Software by 317.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,091 shares of the software maker’s stock worth $1,044,000 after buying an additional 3,871 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in Paycom Software by 7.7% during the fourth quarter. Park Avenue Securities LLC now owns 2,950 shares of the software maker’s stock worth $605,000 after acquiring an additional 212 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Stifel Nicolaus boosted their target price on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software has an average rating of “Hold” and an average price target of $226.90.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $260.70 on Monday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $261.64. The company’s fifty day moving average is $222.52 and its 200-day moving average is $218.19. The company has a market capitalization of $15.08 billion, a PE ratio of 29.29, a P/E/G ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, beating the consensus estimate of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The company had revenue of $530.50 million for the quarter, compared to the consensus estimate of $522.92 million. During the same quarter in the previous year, the company earned $2.59 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.58%. Paycom Software’s dividend payout ratio is presently 21.40%.

Insider Activity

In related news, COO Randall Peck sold 3,600 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the transaction, the chief operating officer now owns 50,665 shares in the company, valued at $10,750,606.35. This represents a 6.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was 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 trade represents a 6.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,526 shares of company stock worth $37,450,796. Corporate 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.