Securian Asset Management Inc. Sells 100 Shares of Paycom Software, Inc. (NYSE:PAYC)

Securian Asset Management Inc. lessened its position in Paycom Software, Inc. (NYSE:PAYC) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,447 shares of the software maker’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Paycom Software were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PAYC. Brighton Jones LLC bought a new position in Paycom Software in the fourth quarter worth approximately $638,000. HighTower Advisors LLC raised its position in shares of Paycom Software by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 15,215 shares of the software maker’s stock valued at $3,119,000 after buying an additional 184 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Paycom Software in the fourth quarter valued at approximately $256,000. Cibc World Markets Corp grew its stake in shares of Paycom Software by 15.8% during the fourth quarter. Cibc World Markets Corp now owns 7,835 shares of the software maker’s stock worth $1,606,000 after purchasing an additional 1,071 shares in the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Paycom Software in the fourth quarter valued at about $236,000. Institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PAYC. Piper Sandler raised their target price on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Stifel Nicolaus upped their price target on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th. KeyCorp upped their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Finally, BMO Capital Markets raised their price target on Paycom Software from $215.00 to $244.00 and gave the company a “market perform” rating in a report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $226.90.

Insider Buying and Selling at Paycom Software

In other news, COO Randall Peck sold 890 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the transaction, the chief operating officer owned 49,394 shares in the company, valued at approximately $13,000,994.74. This trade represents a 1.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the sale, the insider directly owned 27,233 shares of the company’s stock, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,016 shares of company stock worth $42,736,608. 10.90% of the stock is owned by company insiders.

Paycom Software Trading Up 0.7%

PAYC opened at $224.77 on Friday. The stock has a fifty day moving average price of $245.35 and a 200-day moving average price of $223.81. Paycom Software, Inc. has a 12 month low of $152.45 and a 12 month high of $267.76. The firm has a market cap of $13.00 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 2.46 and a beta of 0.77.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The business had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. During the same period last year, the business posted $2.59 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.375 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.67%. Paycom Software’s payout ratio is 21.40%.

Paycom Software 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.