American International Group Inc. Has $3.38 Million Stake in Paycom Software, Inc. (NYSE:PAYC)

American International Group Inc. reduced its holdings in Paycom Software, Inc. (NYSE:PAYC) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,327 shares of the software maker’s stock after selling 286 shares during the period. American International Group Inc.’s holdings in Paycom Software were worth $3,375,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hexagon Capital Partners LLC lifted its stake in shares of Paycom Software by 333.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after purchasing an additional 100 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in Paycom Software by 83.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after buying an additional 71 shares during the last quarter. Operose Advisors LLC acquired a new position in shares of Paycom Software during the 3rd quarter worth about $55,000. GAMMA Investing LLC bought a new stake in shares of Paycom Software in the 4th quarter valued at about $49,000. Finally, Quest Partners LLC acquired a new stake in shares of Paycom Software in the 4th quarter valued at approximately $56,000. 87.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PAYC has been the subject of several recent analyst reports. BMO Capital Markets lowered their target price on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, May 2nd. 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 report on Thursday, May 2nd. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. Finally, Citigroup dropped their target price on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Sixteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $240.94.

Paycom Software Price Performance

Shares of PAYC stock opened at $147.40 on Monday. The stock has a market cap of $8.57 billion, a P/E ratio of 17.95, a P/E/G ratio of 2.25 and a beta of 1.17. Paycom Software, Inc. has a one year low of $140.12 and a one year high of $374.04. The company has a fifty day moving average price of $167.91 and a two-hundred day moving average price of $185.05.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $2.29. The firm had revenue of $499.88 million for the quarter, compared to the consensus estimate of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. As a group, equities research analysts anticipate that Paycom Software, Inc. will post 6.26 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 dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.02%. Paycom Software’s dividend payout ratio (DPR) is currently 18.27%.

Insider Buying and Selling

In other Paycom Software news, insider Jason D. Clark sold 906 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $143.61, for a total transaction of $130,110.66. Following the completion of the transaction, the insider now owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Paycom Software news, insider Jason D. Clark sold 906 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $143.61, for a total value of $130,110.66. Following the sale, the insider now owns 43,367 shares in the company, valued at $6,227,934.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amy Vickroy sold 1,381 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the transaction, the executive vice president now owns 19,962 shares of the company’s stock, valued at $2,862,351.18. The disclosure for this sale can be found here. Insiders sold a total of 21,787 shares of company stock worth $3,430,426 in the last ninety days. 14.50% of the stock is owned by insiders.

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.