Voloridge Investment Management LLC Decreases Stake in Paycom Software, Inc. (NYSE:PAYC)

Voloridge Investment Management LLC lowered its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 71.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,649 shares of the software maker’s stock after selling 318,520 shares during the quarter. Voloridge Investment Management LLC owned 0.22% of Paycom Software worth $26,164,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Glass Jacobson Investment Advisors llc boosted its holdings in shares of Paycom Software by 746.7% in the 4th 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 bought a new stake in Paycom Software in the fourth quarter worth about $30,000. IFP Advisors Inc boosted its stake in Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after acquiring an additional 178 shares during the last quarter. Parvin Asset Management LLC bought a new position in shares of Paycom Software during the 4th quarter valued at approximately $61,000. Finally, Blue Trust Inc. grew its position in shares of Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock valued at $72,000 after acquiring an additional 88 shares during the period. Institutional investors own 87.77% of the company’s stock.

Insider Activity

In other news, insider Bradley Scott Smith sold 3,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 28,733 shares in the company, valued at approximately $5,775,620.33. This trade represents a 9.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Randall Peck sold 3,600 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the completion of the transaction, the chief operating officer now owns 50,665 shares of the company’s stock, valued at $10,750,606.35. This trade represents a 6.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,526 shares of company stock worth $37,450,796. 10.90% of the stock is currently owned by insiders.

Paycom Software Price Performance

NYSE PAYC opened at $257.25 on Thursday. The company’s 50 day simple moving average is $225.72 and its two-hundred day simple moving average is $219.09. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $261.69. The stock has a market capitalization of $14.88 billion, a PE ratio of 28.90, a P/E/G ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. The company had revenue of $530.50 million for the quarter, compared to the consensus estimate 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 last year, the business posted $2.59 earnings per share. On average, research analysts anticipate 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. Stockholders of record on Tuesday, May 27th will be given 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 dividend yield of 0.58%. Paycom Software’s dividend payout ratio (DPR) is presently 21.40%.

Wall Street Analyst Weigh In

PAYC has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Stifel Nicolaus upped their price target on Paycom Software from $187.00 to $215.00 and gave the company a “hold” rating in a research report on Thursday, May 8th. Barclays boosted their price objective on Paycom Software from $221.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, 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. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $226.90.

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.