Paycom Software, Inc. $PAYC Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 22.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,389,575 shares of the software maker’s stock after selling 399,420 shares during the period. First Trust Advisors LP’s holdings in Paycom Software were worth $289,226,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Advisory Alpha LLC bought a new stake in shares of Paycom Software in the 3rd quarter worth approximately $316,000. Dimensional Fund Advisors LP boosted its holdings in Paycom Software by 2.8% during the third quarter. Dimensional Fund Advisors LP now owns 417,185 shares of the software maker’s stock worth $86,884,000 after buying an additional 11,274 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in Paycom Software by 52.4% during the third quarter. Cresset Asset Management LLC now owns 2,689 shares of the software maker’s stock worth $560,000 after buying an additional 925 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in Paycom Software in the third quarter worth approximately $990,000. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Paycom Software by 2,662.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 105,562 shares of the software maker’s stock valued at $21,971,000 after buying an additional 101,740 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In related news, CFO Robert D. Foster sold 1,300 shares of the business’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 in the company, valued at approximately $2,398,747.02. The trade was a 8.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 10.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PAYC shares. KeyCorp cut their price objective on Paycom Software from $250.00 to $195.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. BMO Capital Markets cut their target price on Paycom Software from $175.00 to $137.00 and set a “market perform” rating on the stock in a research report on Thursday, February 12th. Cantor Fitzgerald upped their target price on Paycom Software from $115.00 to $135.00 and gave the company a “neutral” rating in a report on Friday. Zacks Research upgraded Paycom Software from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Finally, UBS Group dropped their price target on Paycom Software from $245.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $170.71.

Paycom Software Trading Up 1.0%

PAYC stock opened at $138.09 on Friday. The firm has a market cap of $7.50 billion, a PE ratio of 17.07, a PEG ratio of 1.49 and a beta of 0.80. Paycom Software, Inc. has a 1 year low of $104.90 and a 1 year high of $267.76. The company has a fifty day simple moving average of $139.07 and a 200 day simple moving average of $173.71.

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

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.1%. Paycom Software’s dividend payout ratio is currently 18.54%.

About Paycom Software

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.