Yousif Capital Management LLC Lowers Holdings in Paycom Software, Inc. (NYSE:PAYC)

Yousif Capital Management LLC lowered its stake in Paycom Software, Inc. (NYSE:PAYC) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,718 shares of the software maker’s stock after selling 277 shares during the period. Yousif Capital Management LLC’s holdings in Paycom Software were worth $1,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PAYC. Brighton Jones LLC bought a new stake in shares of Paycom Software during the 4th quarter worth approximately $638,000. Empowered Funds LLC increased its stake in Paycom Software by 156.9% in the fourth quarter. Empowered Funds LLC now owns 6,478 shares of the software maker’s stock worth $1,328,000 after purchasing an additional 3,956 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Paycom Software by 1.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 34,361 shares of the software maker’s stock worth $6,920,000 after purchasing an additional 417 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Paycom Software by 10.6% during the fourth quarter. Van ECK Associates Corp now owns 11,560 shares of the software maker’s stock worth $2,369,000 after purchasing an additional 1,108 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Paycom Software by 0.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 20,240 shares of the software maker’s stock valued at $4,184,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. KeyCorp lifted their price target on shares of Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Wall Street Zen cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Barclays raised their price objective on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $226.90.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 23,200 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total value of $6,152,640.00. Following the completion of the transaction, the chief executive officer now owns 3,224,049 shares in the company, valued at approximately $855,017,794.80. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value of $374,940.00. Following the sale, the insider now owns 27,233 shares in the company, valued at $6,807,160.68. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,016 shares of company stock valued at $42,736,608 over the last quarter. 10.90% of the stock is currently owned by company insiders.

Paycom Software Trading Up 0.5%

Shares of NYSE PAYC opened at $246.24 on Tuesday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $267.76. The stock’s fifty day simple moving average is $240.37 and its two-hundred day simple moving average is $222.79. The stock has a market capitalization of $14.25 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The firm had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. During the same period in the prior year, the business posted $2.59 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.61%. The ex-dividend date was Tuesday, May 27th. Paycom Software’s dividend payout ratio is presently 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.