Ensign Peak Advisors Inc Reduces Position in Paycom Software, Inc. (NYSE:PAYC)

Ensign Peak Advisors Inc cut its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 34.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,284 shares of the software maker’s stock after selling 15,634 shares during the period. Ensign Peak Advisors Inc owned approximately 0.05% of Paycom Software worth $6,207,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in Paycom Software in the fourth quarter worth $7,142,000. Glenview Trust co increased its stake in Paycom Software by 27.1% in the 4th quarter. Glenview Trust co now owns 12,294 shares of the software maker’s stock worth $2,520,000 after buying an additional 2,625 shares during the period. Nisa Investment Advisors LLC increased its stake in Paycom Software by 175.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,351 shares of the software maker’s stock worth $1,507,000 after buying an additional 4,685 shares during the period. American Century Companies Inc. increased its stake in Paycom Software by 43.0% in the 4th quarter. American Century Companies Inc. now owns 52,755 shares of the software maker’s stock worth $10,813,000 after buying an additional 15,852 shares during the period. Finally, Jacksonville Wealth Management LLC purchased a new stake in Paycom Software in the 4th quarter valued at about $394,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PAYC has been the subject of several research reports. KeyCorp boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Citigroup lowered their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets boosted their price objective on shares of Paycom Software from $215.00 to $244.00 and gave the company a “market perform” rating in a research report on Thursday, May 8th. Eleven equities 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, the company has an average rating of “Hold” and a consensus price target of $226.90.

Insider Buying and Selling at Paycom Software

In other news, COO Randall Peck sold 3,600 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chad R. Richison sold 120,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the sale, the chief executive officer now owns 3,307,249 shares in the company, valued at $805,381,276.48. The trade was a 3.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,100 shares of company stock worth $30,698,424. 10.90% of the stock is owned by corporate insiders.

Paycom Software Stock Up 0.7%

NYSE PAYC opened at $260.25 on Wednesday. The firm has a market cap of $15.06 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The company has a 50 day moving average price of $219.78 and a 200 day moving average price of $216.28. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $261.64.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. The firm had revenue of $530.50 million during the quarter, compared to analyst estimates 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 was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.59 EPS. On average, equities research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

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

About Paycom Software

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.