Davis Investment Partners LLC Trims Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Davis Investment Partners LLC lessened its stake in Paycom Software, Inc. (NYSE:PAYC) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,163 shares of the software maker’s stock after selling 234 shares during the quarter. Davis Investment Partners LLC’s holdings in Paycom Software were worth $1,245,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of Paycom Software by 51.4% in the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after buying an additional 905 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Paycom Software by 14.5% during the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after purchasing an additional 41,187 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of Paycom Software in the second quarter valued at about $589,000. Sylebra Capital LLC increased its stake in shares of Paycom Software by 53.9% during the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after purchasing an additional 685,190 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Paycom Software by 9.3% during the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after purchasing an additional 5,574 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $165.27, for a total transaction of $322,276.50. Following the transaction, the chief executive officer now owns 2,766,510 shares of the company’s stock, valued at $457,221,107.70. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 25,350 shares of company stock valued at $4,853,570. 14.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PAYC shares. Mizuho upped their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. BMO Capital Markets upped their price target on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Barclays lifted their price objective on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software has an average rating of “Hold” and a consensus target price of $196.63.

Paycom Software Stock Performance

NYSE PAYC traded down $1.25 during trading on Monday, reaching $200.75. The company’s stock had a trading volume of 350,803 shares, compared to its average volume of 469,951. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 3.12 and a beta of 1.14. The business’s fifty day moving average price is $220.82 and its 200-day moving average price is $182.63.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were given a $0.375 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.75%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Paycom Software 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.