Y Intercept Hong Kong Ltd Sells 10,356 Shares of Paycom Software, Inc. (NYSE:PAYC)

Y Intercept Hong Kong Ltd decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 91.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,013 shares of the software maker’s stock after selling 10,356 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Paycom Software were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kingsview Wealth Management LLC grew its position in shares of Paycom Software by 8.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker’s stock valued at $323,000 after purchasing an additional 114 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Paycom Software by 57.1% during the 1st quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker’s stock valued at $587,000 after purchasing an additional 976 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Paycom Software by 54.5% during the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock valued at $198,000 after purchasing an additional 319 shares in the last quarter. American Century Companies Inc. grew its position in shares of Paycom Software by 43.0% during the 4th quarter. American Century Companies Inc. now owns 52,755 shares of the software maker’s stock valued at $10,813,000 after purchasing an additional 15,852 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Paycom Software by 11.9% during the 1st quarter. Rhumbline Advisers now owns 102,936 shares of the software maker’s stock valued at $22,489,000 after purchasing an additional 10,908 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $235.67 on Thursday. Paycom Software, Inc. has a 52-week low of $152.46 and a 52-week high of $267.76. The firm has a fifty day moving average of $240.71 and a 200 day moving average of $225.95. The firm has a market capitalization of $13.63 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.62 and a beta of 0.77.

Paycom Software (NYSE:PAYC) last released 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 20.60% and a return on equity of 25.53%. The company had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same quarter last year, the firm earned $2.59 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.64%. Paycom Software’s payout ratio is 21.40%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 23,200 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the completion of the sale, the chief executive officer directly owned 3,224,049 shares in the company, valued at $855,017,794.80. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Randall Peck sold 890 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the sale, the chief operating officer owned 49,394 shares of the company’s stock, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,016 shares of company stock worth $42,736,608 over the last three months. Company insiders own 10.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PAYC. KeyCorp boosted 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, May 8th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. Barclays boosted their price target on shares of Paycom Software from $221.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Stifel Nicolaus boosted their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a “hold” rating in a research report on Thursday, May 8th. Finally, Piper Sandler boosted their price target on shares of Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $226.90.

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.