Credit Suisse AG trimmed its position in Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 12.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,968 shares of the software maker’s stock after selling 9,712 shares during the quarter. Credit Suisse AG owned 0.11% of Paycom Software worth $21,091,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in shares of Paycom Software by 7.0% in the third quarter. Commonwealth Equity Services LLC now owns 23,268 shares of the software maker’s stock valued at $7,678,000 after buying an additional 1,518 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Paycom Software in the third quarter valued at about $311,000. Cigna Investments Inc. New acquired a new stake in shares of Paycom Software in the third quarter valued at about $207,000. Mutual of America Capital Management LLC grew its stake in shares of Paycom Software by 2.5% in the third quarter. Mutual of America Capital Management LLC now owns 6,728 shares of the software maker’s stock valued at $2,220,000 after buying an additional 162 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Paycom Software by 36.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,400 shares of the software maker’s stock valued at $8,192,000 after buying an additional 7,006 shares in the last quarter. 88.58% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Jason D. Clark sold 430 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $278.99, for a total transaction of $119,965.70. Following the transaction, the director now directly owns 5,100 shares in the company, valued at $1,422,849. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jason D. Clark sold 430 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $278.99, for a total transaction of $119,965.70. Following the transaction, the director now directly owns 5,100 shares in the company, valued at $1,422,849. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jason D. Clark sold 1,070 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $278.33, for a total value of $297,813.10. Following the transaction, the director now owns 4,741 shares in the company, valued at $1,319,562.53. The disclosure for this sale can be found here. 14.50% of the stock is owned by insiders.
Paycom Software Price Performance
Paycom Software (NYSE:PAYC – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The software maker reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.06. Paycom Software had a return on equity of 26.29% and a net margin of 20.96%. The company had revenue of $451.64 million during the quarter, compared to analysts’ expectations of $444.23 million. Analysts forecast that Paycom Software, Inc. will post 6.21 EPS for the current fiscal year.
Paycom Software Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Tuesday, May 30th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.50%. Paycom Software’s dividend payout ratio is presently 28.14%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on PAYC shares. DA Davidson upgraded Paycom Software from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research note on Thursday, March 30th. They noted that the move was a valuation call. Citigroup raised their price target on Paycom Software from $357.00 to $361.00 in a report on Thursday, May 4th. Oppenheimer lifted their target price on Paycom Software from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. Piper Sandler lowered their price target on Paycom Software from $417.00 to $399.00 in a research report on Wednesday, May 3rd. Finally, StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $368.53.
Paycom Software Profile
Paycom Software, Inc engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.
Read More
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