Renaissance Technologies LLC Lowers Stake in Paycom Software, Inc. (NYSE:PAYC)

Renaissance Technologies LLC decreased its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 70.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 48,250 shares of the software maker’s stock after selling 113,300 shares during the period. Renaissance Technologies LLC’s holdings in Paycom Software were worth $6,902,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PAYC. Empirical Finance LLC grew its holdings in Paycom Software by 3.9% in the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock valued at $314,000 after buying an additional 60 shares during the period. Optas LLC grew its holdings in Paycom Software by 6.1% in the first quarter. Optas LLC now owns 1,059 shares of the software maker’s stock valued at $211,000 after purchasing an additional 61 shares during the period. Wahed Invest LLC increased its position in Paycom Software by 7.9% during the fourth quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock worth $181,000 after purchasing an additional 64 shares during the last quarter. Andina Capital Management LLC raised its stake in Paycom Software by 4.5% during the second quarter. Andina Capital Management LLC now owns 1,588 shares of the software maker’s stock worth $227,000 after purchasing an additional 68 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Paycom Software by 1.7% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock valued at $661,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $142.01, for a total value of $276,919.50. Following the completion of the transaction, the chief executive officer now owns 3,037,358 shares in the company, valued at approximately $431,335,209.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the sale, the chief financial officer now owns 294,849 shares in the company, valued at $45,990,547.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $142.01, for a total value of $276,919.50. Following the completion of the transaction, the chief executive officer now owns 3,037,358 shares of the company’s stock, valued at $431,335,209.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,856 shares of company stock worth $11,641,723. 14.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Citigroup reduced their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Jefferies Financial Group dropped 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. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Finally, TD Cowen increased their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $179.75.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $167.83 on Thursday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $279.96. The stock’s 50-day simple moving average is $162.82 and its 200-day simple moving average is $168.07. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.44 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The company had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. As a group, research analysts predict that Paycom Software, Inc. will post 6.67 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s dividend payout ratio is currently 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.