JT Stratford LLC Reduces Stake in Paycom Software, Inc. (NYSE:PAYC)

JT Stratford LLC reduced its holdings in Paycom Software, Inc. (NYSE:PAYC) by 51.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,003 shares of the software maker’s stock after selling 1,083 shares during the quarter. JT Stratford LLC’s holdings in Paycom Software were worth $206,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Glass Jacobson Investment Advisors llc boosted its stake 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 valued at $26,000 after purchasing an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Paycom Software during the 4th quarter valued at $30,000. IFP Advisors Inc boosted its position in Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after buying an additional 178 shares during the period. Parvin Asset Management LLC purchased a new stake in Paycom Software during the 4th quarter valued at $61,000. Finally, Blue Trust Inc. boosted its position in 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 buying an additional 88 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. Stifel Nicolaus raised their target price on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Barclays raised their target price on shares of Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Finally, BMO Capital Markets raised their target price on shares of Paycom Software from $215.00 to $244.00 and gave the stock 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $226.90.

Insider Activity

In related news, insider Bradley Scott Smith sold 3,000 shares of the firm’s stock in a transaction dated 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 $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 is accessible through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the transaction, the director now directly owns 7,730 shares in the company, valued at $1,686,840.60. This represents a 6.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 149,926 shares of company stock valued at $36,686,912. 10.90% of the stock is currently owned by company insiders.

Paycom Software Stock Down 1.4%

PAYC stock opened at $257.91 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $262.80. The company has a fifty day simple moving average of $227.45 and a two-hundred day simple moving average of $219.71. The firm has a market capitalization of $14.92 billion, a P/E ratio of 28.98, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data 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 26.66% and a return on equity of 33.53%. The business had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. During the same quarter last year, the business earned $2.59 earnings per share. Paycom Software’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

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

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.