Bessemer Group Inc. Cuts Holdings in Paycom Software, Inc. (NYSE:PAYC)

Bessemer Group Inc. trimmed its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 64.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,102 shares of the software maker’s stock after selling 12,801 shares during the quarter. Bessemer Group Inc.’s holdings in Paycom Software were worth $1,552,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in Paycom Software during the fourth quarter valued at approximately $7,142,000. Glenview Trust co increased its holdings in Paycom Software by 27.1% during the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker’s stock valued at $2,520,000 after buying an additional 2,625 shares during the period. SG Americas Securities LLC increased its holdings in Paycom Software by 57.1% during the first quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker’s stock valued at $587,000 after buying an additional 976 shares during the period. American Century Companies Inc. increased its holdings in 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 period. Finally, Rhumbline Advisers increased its holdings in Paycom Software by 11.9% during the first quarter. Rhumbline Advisers now owns 102,936 shares of the software maker’s stock valued at $22,489,000 after buying an additional 10,908 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PAYC shares. Stifel Nicolaus lifted their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the company a “hold” rating in a report on Thursday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, May 8th. KeyCorp raised their target price on shares of Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Barclays raised their target price on shares of Paycom Software from $221.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and an average price target of $226.90.

Paycom Software Price Performance

NYSE PAYC opened at $227.03 on Friday. The company has a market capitalization of $13.13 billion, a PE ratio of 32.39, a P/E/G ratio of 2.50 and a beta of 0.81. The company has a fifty day moving average of $244.08 and a 200 day moving average of $222.79. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $267.76.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The company had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.59 earnings per share. Research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were issued a $0.375 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a yield of 0.66%. Paycom Software’s payout ratio is 21.40%.

Insider Buying and Selling at Paycom Software

In other news, COO Randall Peck sold 890 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the sale, the chief operating officer now owns 49,394 shares of the company’s stock, valued at $13,000,994.74. The trade was a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the sale, the insider now directly owns 27,233 shares of the company’s stock, valued at $6,807,160.68. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,016 shares of company stock valued at $42,736,608. Corporate insiders own 10.90% 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.