Tributary Capital Management LLC Sells 325 Shares of Paycom Software, Inc. (NYSE:PAYC)

Tributary Capital Management LLC trimmed its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 24.7% during the first quarter, HoldingsChannel reports. The firm owned 990 shares of the software maker’s stock after selling 325 shares during the quarter. Tributary Capital Management LLC’s holdings in Paycom Software were worth $197,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Mather Group LLC. bought a new stake in shares of Paycom Software during the first quarter worth $26,000. Hexagon Capital Partners LLC increased its position in shares of Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Paycom Software during the fourth quarter worth $41,000. GAMMA Investing LLC bought a new stake in shares of Paycom Software during the fourth quarter worth $49,000. Finally, Quest Partners LLC bought a new stake in shares of Paycom Software during the fourth quarter worth $56,000. 87.77% of the stock is owned by institutional investors.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $142.43, for a total transaction of $277,738.50. Following the completion of the sale, the chief executive officer now owns 3,035,408 shares in the company, valued at approximately $432,333,161.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $142.43, for a total transaction of $277,738.50. Following the transaction, the chief executive officer now directly owns 3,035,408 shares of the company’s stock, valued at $432,333,161.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jason D. Clark sold 906 shares of the firm’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 transaction, the insider now directly owns 43,367 shares in the company, valued at $6,227,934.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,537 shares of company stock worth $4,823,818. 12.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Citigroup decreased their target price on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Jefferies Financial Group decreased their target price on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. TD Cowen decreased their target price on shares of Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a research report on Thursday, June 20th. Finally, Mizuho decreased their target price on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Sixteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus price target of $237.81.

Paycom Software Stock Performance

NYSE PAYC opened at $142.27 on Wednesday. The firm has a 50-day moving average of $161.60 and a 200-day moving average of $182.53. The stock has a market cap of $8.27 billion, a PE ratio of 17.33, a P/E/G ratio of 2.17 and a beta of 1.16. Paycom Software, Inc. has a 52-week low of $139.69 and a 52-week high of $374.04.

Paycom Software (NYSE:PAYC) last posted its earnings results 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 company had revenue of $499.88 million during the quarter, compared to analysts’ expectations of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. As a group, analysts predict that Paycom Software, Inc. will post 6.37 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Friday, May 24th. Paycom Software’s dividend payout ratio is presently 18.27%.

Paycom Software Company 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.