Pine Valley Investments Ltd Liability Co Decreases Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Pine Valley Investments Ltd Liability Co decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 20.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,241 shares of the software maker’s stock after selling 2,812 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Paycom Software were worth $2,304,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Brooklyn Investment Group bought a new position in Paycom Software during the third quarter valued at $28,000. Pin Oak Investment Advisors Inc. increased its position in Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after acquiring an additional 77 shares during the last quarter. First Horizon Advisors Inc. increased its position in Paycom Software by 821.7% during the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after acquiring an additional 189 shares during the last quarter. IFP Advisors Inc increased its position in Paycom Software by 635.7% during the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after acquiring an additional 178 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Paycom Software by 277.1% during the third quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after acquiring an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PAYC. Jefferies Financial Group boosted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Barclays cut their price target on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their price target on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, TD Cowen upped their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $209.22.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 14.50% of the company’s stock.

Paycom Software Price Performance

NYSE:PAYC opened at $218.96 on Wednesday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The company has a 50-day moving average of $207.67 and a 200 day moving average of $194.49. The firm has a market cap of $12.54 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s payout ratio is 16.85%.

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.