ProShare Advisors LLC dropped its shares in Paycom Software, Inc. (NYSE:PAYC – Free Report) by 4.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 12,323 shares of the software maker after selling 624 shares during the period. ProShare Advisors LLC’s shares of Paycom Software were worth $2,452,000, according to the company’s most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PAYC. Mather Group LLC. purchased a new position in shares of Paycom Software during the 1st quarter worth $26,000. Hexagon Capital Partners LLC increased its stake in Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker worth $27,000 after acquiring an additional 100 shares during the period. Palisade Asset Management LLC purchased a new position in Paycom Software during the first quarter worth approximately $32,000. Transcendent Capital Group LLC purchased a new position in Paycom Software during the fourth quarter worth approximately $41,000. Finally, SYSTM Wealth Solutions LLC increased its stake in shares of Paycom Software by 75.8% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 225 shares of the software maker’s stock worth $45,000 after purchasing an additional 97 shares during the period. Institutional investors own 87.77% of the company’s shares.

Analysts set new price targets

Several equities analysts have recently weighed in on PAYC stock. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Mizuho lowered their price target on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. BMO Capital Markets lowered their price target on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. TD Cowen lowered their price target on Paycom Software from $170.00 to $147.00 and set a “hold” rating on the company in a research report on Thursday, June 20th. Finally, Barclays lowered their price target on Paycom Software from $184.00 to $161.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Seventeen equities analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $236.38.

Check out our latest report on Paycom Software

Paycom Software Shares Jump 2.1%

NYSE:PAYC opened Friday at $158.10. The company’s 50-day simple moving average is $153.47 and its 200-day simple moving average is $177.67. The stock has a market cap of $9.19 billion, a price/earnings/growth ratio of 19.26, a forward price/earnings/growth ratio of 2.57 and a beta of 1.16. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $374.04.

Paycom Software (NYSE:PAYC – Get Free Report) last released its quarterly earnings results on Wednesday, May 01. The software maker reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $2.29. The company had revenue of $499.88 million for the quarter, compared to analysts’ expectations of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. Sell-side analysts expect Paycom Software, Inc. to post 6.36 EPS for the current fiscal year.

Paycom Software announces dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th were paid a dividend of $0.375 per share. The ex-dividend date for this dividend was Friday, May 24th. This represents a $1.50 annualized dividend and a yield of 0.95%. Paycom Software’s dividend payout ratio is currently 18.27%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, insider Jason D. Clark sold 906 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $143.61, for a total transaction of $130,110.66. Following the sale, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The transaction was disclosed in a legal filing with the SEC, available at this hyperlink. In related news, insider Jason D. Clark sold 906 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $143.61, for a total transaction of $130,110.66. Following the completion of the transaction, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The sale was disclosed in a filing with the SEC, available at this link. Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $180.82, for a total value of $352,599.00. Following the transaction, the chief executive officer now owns 3,091,958 shares of the company’s stock, valued at approximately $559,087,845.56. The disclosure for this sale can be found here. Insiders have sold a total of 45,187 shares of the company’s stock in the last ninety days, valued at $6,828,964. Currently, 14.50% of the shares are held by company insiders.

Company Profile of Paycom Software

(Free Report)

Paycom Software, Inc. provides cloud-based human capital management (HCM) solutions delivered as software-as-a-service to small to mid-sized businesses in the United States. It offers the functionality and data analytics that businesses need to manage the employment lifecycle, from hiring to retirement.

Read further

Would you like to know which other hedge funds have PAYC in their portfolio? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Paycom Software, Inc. (NYSE:PAYC – Free Report).

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