Gotham Asset Management LLC Sells 7,969 Shares of Paycom Software, Inc. (NYSE:PAYC)

Gotham Asset Management LLC trimmed its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,230 shares of the software maker’s stock after selling 7,969 shares during the period. Gotham Asset Management LLC’s holdings in Paycom Software were worth $17,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PAYC. FMR LLC lifted its position in shares of Paycom Software by 137.8% in the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock worth $491,201,000 after purchasing an additional 1,388,533 shares during the period. Geode Capital Management LLC raised its stake in Paycom Software by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker’s stock worth $310,245,000 after buying an additional 89,848 shares in the last quarter. Northern Trust Corp lifted its holdings in Paycom Software by 10.9% during the fourth quarter. Northern Trust Corp now owns 724,016 shares of the software maker’s stock worth $148,402,000 after buying an additional 70,897 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Paycom Software by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker’s stock valued at $102,090,000 after acquiring an additional 11,611 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Paycom Software by 1,153.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker’s stock valued at $82,375,000 after acquiring an additional 369,825 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PAYC shares. Citigroup reduced their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective 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. Barclays increased their target price 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. Finally, Piper Sandler lifted their price target on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $226.90.

Paycom Software Trading Up 1.4 %

NYSE:PAYC opened at $252.95 on Friday. The company has a market capitalization of $14.63 billion, a P/E ratio of 28.42, a PEG 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 $255.12. The firm has a fifty day simple moving average of $217.84 and a 200-day simple moving average of $214.97.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 33.53% and a net margin of 26.66%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.59 EPS. Equities analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be issued a $0.375 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.59%. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 120,000 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the sale, the chief executive officer now owns 3,307,249 shares in the company, valued at $805,381,276.48. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $603,030.00. Following the transaction, the insider now owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,100 shares of company stock valued at $30,698,424. 10.90% of the stock is owned by insiders.

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.