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

Sei Investments Co. reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,429 shares of the software maker’s stock after selling 9,338 shares during the quarter. Sei Investments Co. owned approximately 0.32% of Paycom Software worth $37,392,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of Paycom Software by 43.0% during the fourth quarter. American Century Companies Inc. now owns 52,755 shares of the software maker’s stock valued at $10,813,000 after buying an additional 15,852 shares during the last quarter. Virtu Financial LLC acquired a new stake in Paycom Software in the fourth quarter valued at approximately $1,929,000. Horizon Investments LLC grew its holdings in Paycom Software by 1,085.9% in the fourth quarter. Horizon Investments LLC now owns 7,827 shares of the software maker’s stock worth $1,604,000 after purchasing an additional 7,167 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Paycom Software by 29.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,539 shares of the software maker’s stock worth $963,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Paycom Software during the 4th quarter valued at $236,000. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

NYSE:PAYC opened at $223.43 on Tuesday. The firm’s fifty day moving average is $210.97 and its two-hundred day moving average is $202.19. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. As a group, equities research analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.67%. Paycom Software’s dividend payout ratio is presently 16.85%.

Analyst Ratings Changes

PAYC has been the topic of several recent analyst reports. Piper Sandler upped their target price on Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Stifel Nicolaus cut their price target on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Finally, KeyCorp upgraded shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price objective for the company in a research note on Monday, March 10th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $212.80.

Insider Buying and Selling at Paycom Software

In other news, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,100 shares of company stock valued at $1,476,024. Corporate insiders own 14.50% of the company’s stock.

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.