Paycom Software, Inc. $PAYC Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 55.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,197 shares of the software maker’s stock after selling 3,905 shares during the quarter. Bessemer Group Inc.’s holdings in Paycom Software were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group lifted its stake in shares of Paycom Software by 19.4% during the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock worth $52,000 after buying an additional 39 shares during the period. Commerce Bank lifted its position in Paycom Software by 2.2% during the first quarter. Commerce Bank now owns 2,351 shares of the software maker’s stock valued at $514,000 after purchasing an additional 50 shares during the period. Allworth Financial LP lifted its position in Paycom Software by 12.9% during the first quarter. Allworth Financial LP now owns 464 shares of the software maker’s stock valued at $105,000 after purchasing an additional 53 shares during the period. US Bancorp DE lifted its position in Paycom Software by 0.5% during the first quarter. US Bancorp DE now owns 10,421 shares of the software maker’s stock valued at $2,277,000 after purchasing an additional 57 shares during the period. Finally, Burns Matteson Capital Management LLC lifted its position in Paycom Software by 2.5% during the first quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker’s stock valued at $513,000 after purchasing an additional 58 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the sale, the insider owned 24,533 shares of the company’s stock, valued at $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PAYC. KeyCorp boosted their target price on shares of Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a research report on Thursday, September 11th. UBS Group decreased their target price on shares of Paycom Software from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Guggenheim began coverage on shares of Paycom Software in a research report on Friday, September 26th. They set a “buy” rating and a $270.00 target price for the company. Finally, BMO Capital Markets boosted their target price on shares of Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $243.69.

Paycom Software Stock Performance

Shares of Paycom Software stock opened at $187.33 on Friday. The firm has a 50-day simple moving average of $211.07 and a two-hundred day simple moving average of $227.62. The company has a market cap of $10.84 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82. Paycom Software, Inc. has a fifty-two week low of $183.76 and a fifty-two week high of $267.76.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.28. The business had revenue of $483.60 million during the quarter, compared to the consensus estimate of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 earnings per share. 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 announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.8%. Paycom Software’s payout ratio is currently 20.30%.

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.