Sei Investments Co. Lowers Position in Paycom Software, Inc. (NYSE:PAYC)

Sei Investments Co. cut its stake in Paycom Software, Inc. (NYSE:PAYC) by 10.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 147,939 shares of the software maker’s stock after selling 17,401 shares during the quarter. Sei Investments Co.’s holdings in Paycom Software were worth $21,161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new position in shares of Paycom Software in the second quarter valued at approximately $25,000. Mather Group LLC. bought a new position in shares of Paycom Software in the first quarter valued at approximately $26,000. MFA Wealth Advisors LLC bought a new position in shares of Paycom Software in the second quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Paycom Software in the second quarter valued at approximately $27,000. Finally, Palisade Asset Management LLC bought a new position in shares of Paycom Software in the first quarter valued at approximately $32,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the sale, the insider now owns 14,769 shares in the company, valued at $2,327,889.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the sale, the insider now owns 14,769 shares in the company, valued at $2,327,889.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the sale, the chief financial officer now owns 294,849 shares in the company, valued at approximately $45,990,547.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,856 shares of company stock worth $11,641,723. Corporate insiders own 14.50% of the company’s stock.

Paycom Software Price Performance

Paycom Software stock opened at $167.83 on Thursday. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $279.96. The business has a fifty day moving average price of $162.82 and a 200-day moving average price of $168.07. The firm has a market capitalization of $9.64 billion, a P/E ratio of 20.44, a PEG ratio of 2.44 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, topping 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 firm had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. Sell-side analysts expect that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were given a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.89%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Analyst Ratings Changes

Several research firms have recently issued reports on PAYC. Jefferies Financial Group reduced their target price on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. TD Cowen increased their price objective on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday. Finally, Citigroup reduced their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and an average target price of $179.75.

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.