Citigroup Inc. Sells 15,329 Shares of Paycom Software, Inc. $PAYC

Citigroup Inc. lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 13.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 98,036 shares of the software maker’s stock after selling 15,329 shares during the period. Citigroup Inc. owned 0.17% of Paycom Software worth $20,405,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PAYC. Tredje AP fonden grew its stake in shares of Paycom Software by 4.2% during the 3rd quarter. Tredje AP fonden now owns 6,627 shares of the software maker’s stock valued at $1,379,000 after acquiring an additional 270 shares during the period. Stevens Capital Management LP lifted its holdings in Paycom Software by 141.5% during the third quarter. Stevens Capital Management LP now owns 5,276 shares of the software maker’s stock valued at $1,098,000 after purchasing an additional 3,091 shares in the last quarter. Clear Creek Financial Management LLC lifted its holdings in Paycom Software by 131.0% during the third quarter. Clear Creek Financial Management LLC now owns 2,910 shares of the software maker’s stock valued at $606,000 after purchasing an additional 1,650 shares in the last quarter. Syon Capital LLC boosted its position in shares of Paycom Software by 25.7% in the third quarter. Syon Capital LLC now owns 1,894 shares of the software maker’s stock worth $394,000 after purchasing an additional 387 shares during the period. Finally, First National Bank of Omaha purchased a new stake in shares of Paycom Software in the third quarter worth $2,517,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PAYC. JPMorgan Chase & Co. lowered their target price on shares of Paycom Software from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Jefferies Financial Group lowered their price objective on Paycom Software from $190.00 to $130.00 and set a “hold” rating on the stock in a research report on Thursday, February 12th. TD Cowen cut their target price on Paycom Software from $200.00 to $184.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Guggenheim lowered their price target on Paycom Software from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, KeyCorp cut their price objective on shares of Paycom Software from $250.00 to $195.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $168.57.

Insider Activity

In other news, CFO Robert D. Foster sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $162.66, for a total value of $211,458.00. Following the completion of the sale, the chief financial officer directly owned 14,747 shares of the company’s stock, valued at $2,398,747.02. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.90% of the stock is owned by insiders.

Paycom Software Stock Performance

Shares of PAYC opened at $129.85 on Friday. The stock has a market capitalization of $7.05 billion, a PE ratio of 16.05, a P/E/G ratio of 1.35 and a beta of 0.79. The company’s fifty day moving average is $142.54 and its 200 day moving average is $177.32. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $267.76.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 11th. The software maker reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.01. Paycom Software had a net margin of 22.10% and a return on equity of 24.25%. The business had revenue of $544.30 million during the quarter, compared to analysts’ expectations of $542.79 million. During the same period last year, the company posted $2.32 EPS. The business’s revenue was up 10.2% on a year-over-year basis. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 9th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, March 9th. This represents a $1.50 dividend on an annualized basis and a yield of 1.2%. Paycom Software’s dividend payout ratio is 18.54%.

Paycom Software Company Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.