US Bancorp DE Decreases Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

US Bancorp DE reduced its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 68.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,428 shares of the software maker’s stock after selling 61,704 shares during the period. US Bancorp DE’s holdings in Paycom Software were worth $5,657,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. HBK Sorce Advisory LLC lifted its position in shares of Paycom Software by 5.9% during the 4th quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock worth $204,000 after purchasing an additional 55 shares during the last quarter. Empirical Finance LLC raised its stake in Paycom Software by 3.9% during the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after acquiring an additional 60 shares in the last quarter. Optas LLC raised its stake in Paycom Software by 6.1% during the 1st quarter. Optas LLC now owns 1,059 shares of the software maker’s stock worth $211,000 after acquiring an additional 61 shares in the last quarter. Bouvel Investment Partners LLC raised its stake in Paycom Software by 1.0% during the 4th quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock worth $1,329,000 after acquiring an additional 63 shares in the last quarter. Finally, Wahed Invest LLC increased its stake in Paycom Software by 7.9% in the fourth quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock valued at $181,000 after purchasing an additional 64 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PAYC shares. Mizuho dropped their price objective on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Barclays dropped their price target on shares of Paycom Software from $184.00 to $161.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Citigroup dropped their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Finally, William Blair reiterated a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Seventeen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $236.38.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $153.86, for a total value of $300,027.00. Following the completion of the transaction, the chief executive officer now directly owns 3,017,858 shares of the company’s stock, valued at approximately $464,327,631.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $153.86, for a total value of $300,027.00. Following the sale, the chief executive officer now directly owns 3,017,858 shares in the company, valued at approximately $464,327,631.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Amy Vickroy sold 1,381 shares of Paycom Software stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the sale, the executive vice president now owns 19,962 shares in the company, valued at $2,862,351.18. The disclosure for this sale can be found here. In the last three months, insiders sold 43,237 shares of company stock valued at $6,516,750. Company insiders own 14.50% of the company’s stock.

Paycom Software Price Performance

NYSE:PAYC traded down $0.15 during trading hours on Wednesday, reaching $160.88. 368,769 shares of the company were exchanged, compared to its average volume of 852,268. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.37 and a beta of 1.16. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $374.04. The stock has a 50 day simple moving average of $154.38 and a 200 day simple moving average of $178.30.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, topping the consensus estimate of $1.96 by $2.29. The company had revenue of $499.88 million during the quarter, compared to analyst estimates of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. On average, analysts predict that Paycom Software, Inc. will post 6.37 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, May 24th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

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.