Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Burney Co.

Burney Co. reduced its holdings in Paycom Software, Inc. (NYSE:PAYC) by 68.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,269 shares of the software maker’s stock after selling 4,832 shares during the quarter. Burney Co.’s holdings in Paycom Software were worth $729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Paycom Software by 1.3% during the first quarter. Vanguard Group Inc. now owns 5,535,044 shares of the software maker’s stock worth $1,917,229,000 after acquiring an additional 73,414 shares during the last quarter. State Street Corp increased its stake in Paycom Software by 2.4% during the first quarter. State Street Corp now owns 1,911,316 shares of the software maker’s stock worth $581,056,000 after acquiring an additional 43,991 shares during the last quarter. FMR LLC increased its stake in Paycom Software by 73.4% during the first quarter. FMR LLC now owns 1,629,628 shares of the software maker’s stock worth $495,423,000 after acquiring an additional 689,600 shares during the last quarter. Wellington Management Group LLP increased its stake in Paycom Software by 8.7% during the first quarter. Wellington Management Group LLP now owns 1,359,073 shares of the software maker’s stock worth $470,756,000 after acquiring an additional 108,505 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Paycom Software by 0.8% in the first quarter. Geode Capital Management LLC now owns 1,100,950 shares of the software maker’s stock worth $333,990,000 after buying an additional 8,975 shares during the period. 88.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Paycom Software

In related news, Director J C. Watts, Jr. purchased 314 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were acquired at an average cost of $159.20 per share, for a total transaction of $49,988.80. Following the transaction, the director now owns 6,864 shares of the company’s stock, valued at $1,092,748.80. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director J C. Watts, Jr. purchased 314 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were acquired at an average cost of $159.20 per share, for a total transaction of $49,988.80. Following the transaction, the director now owns 6,864 shares of the company’s stock, valued at $1,092,748.80. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jason D. Clark sold 130 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $287.36, for a total value of $37,356.80. Following the sale, the director now owns 4,970 shares in the company, valued at $1,428,179.20. The disclosure for this sale can be found here. Insiders own 14.50% of the company’s stock.

Paycom Software Trading Up 2.2 %

NYSE:PAYC opened at $177.49 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $241.56 and its two-hundred day moving average is $283.57. Paycom Software, Inc. has a 52 week low of $146.15 and a 52 week high of $374.04. The company has a market cap of $10.69 billion, a PE ratio of 30.34, a P/E/G ratio of 1.43 and a beta of 1.40.

Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, October 31st. The software maker reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.16. Paycom Software had a return on equity of 25.02% and a net margin of 20.80%. The company had revenue of $406.30 million for the quarter, compared to the consensus estimate of $411.17 million. During the same quarter last year, the business posted $0.92 EPS. Paycom Software’s quarterly revenue was up 21.6% compared to the same quarter last year. On average, analysts predict that Paycom Software, Inc. will post 6.03 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, November 24th. Paycom Software’s payout ratio is 25.64%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PAYC shares. Deutsche Bank Aktiengesellschaft downgraded Paycom Software from a “buy” rating to a “hold” rating and decreased their target price for the stock from $400.00 to $175.00 in a research report on Wednesday, November 1st. Barclays decreased their target price on Paycom Software from $294.00 to $200.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 1st. Stifel Nicolaus downgraded Paycom Software from a “buy” rating to a “hold” rating and decreased their target price for the stock from $400.00 to $160.00 in a research report on Wednesday, November 1st. Bank of America downgraded Paycom Software from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $330.00 to $185.00 in a research report on Thursday, November 2nd. Finally, Credit Suisse Group upped their target price on Paycom Software from $375.00 to $395.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $273.12.

About Paycom Software

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.