Park Place Capital Corp Sells 378 Shares of Paycom Software, Inc. (NYSE:PAYC)

Park Place Capital Corp cut its stake in Paycom Software, Inc. (NYSE:PAYC) by 37.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 622 shares of the software maker’s stock after selling 378 shares during the period. Park Place Capital Corp’s holdings in Paycom Software were worth $124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Oak Family Advisors LLC bought a new position in shares of Paycom Software in the fourth quarter valued at about $2,994,000. ARK & TLK Investments LLC acquired a new position in shares of Paycom Software in the fourth quarter valued at about $2,260,000. Janney Montgomery Scott LLC grew its stake in shares of Paycom Software by 26.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 50,315 shares of the software maker’s stock valued at $10,401,000 after acquiring an additional 10,555 shares in the last quarter. Norges Bank acquired a new position in shares of Paycom Software in the fourth quarter valued at about $6,670,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Paycom Software by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 302,544 shares of the software maker’s stock valued at $62,542,000 after acquiring an additional 12,708 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Cowen decreased their price target on shares of Paycom Software from $170.00 to $147.00 and set a “hold” rating on the stock in a research note on Thursday, June 20th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. Barclays decreased their price target on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Finally, Citigroup decreased their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Sixteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $237.81.

Paycom Software Price Performance

NYSE PAYC traded down $0.74 during trading hours on Monday, reaching $142.30. The company’s stock had a trading volume of 692,246 shares, compared to its average volume of 865,609. The firm has a fifty day simple moving average of $162.51 and a 200-day simple moving average of $182.95. The stock has a market cap of $8.27 billion, a P/E 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 issued its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. The business had revenue of $499.88 million during the quarter, compared to analyst estimates of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. On average, research analysts expect that Paycom Software, Inc. will post 6.37 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were issued a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 1.05%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $179.78, for a total transaction of $350,571.00. Following the completion of the transaction, the chief executive officer now owns 3,090,008 shares in the company, valued at approximately $555,521,638.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $179.78, for a total transaction of $350,571.00. Following the completion of the transaction, the chief executive officer now owns 3,090,008 shares in the company, valued at approximately $555,521,638.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jason D. Clark sold 906 shares of the firm’s stock in a transaction that occurred on 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 owns 43,367 shares of the company’s stock, valued at approximately $6,227,934.87. The disclosure for this sale can be found here. Insiders sold a total of 29,587 shares of company stock worth $4,546,080 in the last quarter. 12.60% of the stock is owned by insiders.

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.