Sylebra Capital LLC Grows Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Sylebra Capital LLC lifted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 63.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,215,085 shares of the software maker’s stock after purchasing an additional 1,252,617 shares during the period. Paycom Software accounts for about 18.2% of Sylebra Capital LLC’s holdings, making the stock its biggest position. Sylebra Capital LLC owned approximately 5.58% of Paycom Software worth $658,996,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc increased its holdings 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 worth $26,000 after buying an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Paycom Software during the fourth quarter worth about $30,000. IFP Advisors Inc increased its holdings in Paycom Software by 635.7% during the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after buying an additional 178 shares during the last quarter. Parvin Asset Management LLC purchased a new stake in Paycom Software during the fourth quarter worth about $61,000. Finally, Blue Trust Inc. increased its holdings in Paycom Software by 33.3% during the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after buying an additional 88 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Insider Activity at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the sale, the insider now directly owns 28,733 shares in the company, valued at $5,775,620.33. The trade was a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction that occurred on 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 sale, the chief executive officer now owns 3,307,249 shares of the company’s stock, valued at approximately $805,381,276.48. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 149,926 shares of company stock valued at $36,686,912. Corporate insiders own 10.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lifted their target price on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Stifel Nicolaus lifted their target price on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Barclays lifted their target price on shares of Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets lifted their target price on shares of Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Paycom Software presently has an average rating of “Hold” and an average price target of $226.90.

Paycom Software Trading Up 1.6%

Shares of NYSE:PAYC opened at $261.32 on Friday. The company has a 50 day moving average of $226.63 and a 200 day moving average of $219.43. The stock has a market cap of $15.12 billion, a P/E ratio of 29.36, 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 $262.80.

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

Paycom Software Dividend Announcement

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. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.57%. Paycom Software’s dividend payout ratio is currently 21.40%.

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.