Brown Advisory Inc. Decreases Holdings in Paycom Software, Inc. (NYSE:PAYC)

Brown Advisory Inc. reduced its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,383 shares of the software maker’s stock after selling 1,830 shares during the period. Brown Advisory Inc.’s holdings in Paycom Software were worth $6,074,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. HBK Sorce Advisory LLC increased its stake in Paycom Software by 5.9% in 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 period. Renaissance Group LLC grew its holdings in Paycom Software by 1.1% in the 3rd quarter. Renaissance Group LLC now owns 5,391 shares of the software maker’s stock worth $1,398,000 after acquiring an additional 61 shares during the last quarter. Bouvel Investment Partners LLC increased its position in shares of Paycom Software by 1.0% in the fourth quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock valued at $1,329,000 after acquiring an additional 63 shares during the period. Optas LLC raised its stake in shares of Paycom Software by 7.0% during the fourth quarter. Optas LLC now owns 998 shares of the software maker’s stock valued at $206,000 after acquiring an additional 65 shares during the last quarter. Finally, Court Place Advisors LLC boosted its holdings in shares of Paycom Software by 3.3% during the fourth quarter. Court Place Advisors LLC now owns 2,065 shares of the software maker’s stock worth $427,000 after purchasing an additional 65 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Price Performance

NYSE:PAYC opened at $179.58 on Wednesday. The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.83 and a beta of 1.17. The business has a fifty day moving average price of $188.21 and a 200-day moving average price of $189.05. Paycom Software, Inc. has a one year low of $146.15 and a one year high of $374.04.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s dividend payout ratio is 18.27%.

Analyst Ratings Changes

A number of research firms have commented on PAYC. Barclays lowered their price target on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. BTIG Research began coverage on shares of Paycom Software in a report on Tuesday, February 6th. They issued a “neutral” rating on the stock. William Blair restated a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. BMO Capital Markets cut their target price on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Finally, Needham & Company LLC reissued a “hold” 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $246.31.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $179.78, for a total value of $350,571.00. Following the completion of the sale, the chief executive officer now directly owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.60% of the stock is owned by company insiders.

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.