Citigroup Inc. Sells 15,329 Shares of Paycom Software, Inc. $PAYC

Citigroup Inc. lowered its position in Paycom Software, Inc. (NYSE:PAYC) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,036 shares of the software maker’s stock after selling 15,329 shares during the period. Citigroup Inc.’s holdings in Paycom Software were worth $20,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Allianz Asset Management GmbH lifted its stake in shares of Paycom Software by 10,106.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker’s stock worth $101,355,000 after acquiring an additional 482,186 shares during the last quarter. Jennison Associates LLC purchased a new stake in Paycom Software in the second quarter worth $49,853,000. Vanguard Group Inc. lifted its position in shares of Paycom Software by 3.2% during the third quarter. Vanguard Group Inc. now owns 5,802,788 shares of the software maker’s stock worth $1,207,792,000 after purchasing an additional 179,218 shares during the last quarter. State Street Corp boosted its stake in shares of Paycom Software by 8.4% during the second quarter. State Street Corp now owns 2,097,910 shares of the software maker’s stock valued at $485,456,000 after purchasing an additional 162,477 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in shares of Paycom Software by 10.3% during the third quarter. Baillie Gifford & Co. now owns 1,708,662 shares of the software maker’s stock valued at $355,641,000 after purchasing an additional 158,967 shares during the period. Institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald decreased their price objective on shares of Paycom Software from $135.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. TD Cowen cut their price target on Paycom Software from $200.00 to $184.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Zacks Research upgraded shares of Paycom Software from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Mizuho cut their price objective on shares of Paycom Software from $180.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Finally, BMO Capital Markets decreased their target price on shares of Paycom Software from $175.00 to $137.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Paycom Software has a consensus rating of “Hold” and an average target price of $168.57.

Insider Buying and Selling at Paycom Software

In related news, CFO Robert D. Foster sold 1,300 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $162.66, for a total transaction of $211,458.00. Following the completion of the transaction, the chief financial officer owned 14,747 shares of the company’s stock, valued at $2,398,747.02. This trade represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.90% of the stock is owned by insiders.

Paycom Software Stock Performance

Paycom Software stock opened at $129.85 on Friday. The business’s 50-day simple moving average is $142.54 and its two-hundred day simple moving average is $177.32. The company has a market cap of $7.05 billion, a PE ratio of 16.05, a PEG ratio of 1.35 and a beta of 0.79. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $267.76.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 11th. The software maker reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.01. The firm had revenue of $544.30 million during the quarter, compared to analysts’ expectations of $542.79 million. Paycom Software had a return on equity of 24.25% and a net margin of 22.10%.The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $2.32 earnings per share. As a group, analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 9th. Paycom Software’s dividend payout ratio is 18.54%.

Paycom Software Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.