Pallas Capital Advisors LLC Decreases Position in Paycom Software, Inc. (NYSE:PAYC)

Pallas Capital Advisors LLC cut its position in Paycom Software, Inc. (NYSE:PAYC) by 43.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,788 shares of the software maker’s stock after selling 1,368 shares during the period. Pallas Capital Advisors LLC’s holdings in Paycom Software were worth $391,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Glass Jacobson Investment Advisors llc raised its holdings in Paycom Software by 746.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock worth $26,000 after buying an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of Paycom Software during the fourth quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock valued at $33,000 after purchasing an additional 87 shares during the last quarter. Putney Financial Group LLC purchased a new stake in Paycom Software during the fourth quarter valued at approximately $39,000. Finally, IFP Advisors Inc increased its holdings in Paycom Software by 635.7% during the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after buying an additional 178 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Price Performance

Shares of PAYC opened at $250.79 on Friday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $267.76. The company has a 50-day moving average of $238.25 and a 200 day moving average of $222.79. The firm has a market capitalization of $14.51 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.40 and a beta of 0.81.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The company had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. During the same quarter last year, the business posted $2.59 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Tuesday, May 27th. Paycom Software’s dividend payout ratio (DPR) is 21.40%.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 23,200 shares of Paycom Software stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total value of $6,152,640.00. Following the transaction, the chief executive officer now owns 3,224,049 shares of the company’s stock, valued at $855,017,794.80. The trade was a 0.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the transaction, the chief operating officer now directly owns 49,394 shares in the company, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 170,516 shares of company stock valued at $42,361,668. Company insiders own 10.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, May 8th. Piper Sandler increased their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Wall Street Zen cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Barclays increased their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $226.90.

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.