Seven Eight Capital LP Trims Holdings in Paycom Software, Inc. (NYSE:PAYC)

Seven Eight Capital LP lowered its position in Paycom Software, Inc. (NYSE:PAYC) by 87.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,490 shares of the software maker’s stock after selling 45,367 shares during the period. Seven Eight Capital LP’s holdings in Paycom Software were worth $928,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Empirical Finance LLC raised its stake in shares of Paycom Software by 3.9% during the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock valued at $314,000 after buying an additional 60 shares during the last quarter. Optas LLC raised its position in Paycom Software by 6.1% during the first quarter. Optas LLC now owns 1,059 shares of the software maker’s stock valued at $211,000 after acquiring an additional 61 shares in the last quarter. Wahed Invest LLC lifted its holdings in Paycom Software by 7.9% in the fourth quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock valued at $181,000 after acquiring an additional 64 shares during the period. Andina Capital Management LLC boosted its position in Paycom Software by 4.5% in the 2nd quarter. Andina Capital Management LLC now owns 1,588 shares of the software maker’s stock worth $227,000 after purchasing an additional 68 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Paycom Software by 1.7% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock worth $661,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PAYC shares. TD Cowen boosted their target price on shares of Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Jefferies Financial Group cut their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, Citigroup cut their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Seventeen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $178.33.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $145.48, for a total transaction of $283,686.00. Following the transaction, the chief executive officer now owns 3,045,158 shares of the company’s stock, valued at approximately $443,009,585.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $145.48, for a total transaction of $283,686.00. Following the sale, the chief executive officer now owns 3,045,158 shares of the company’s stock, valued at approximately $443,009,585.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the transaction, the insider now owns 14,769 shares in the company, valued at $2,327,889.78. The disclosure for this sale can be found here. Insiders sold a total of 73,856 shares of company stock worth $11,532,113 in the last three months. 14.50% of the stock is owned by corporate insiders.

Paycom Software Stock Down 1.6 %

Paycom Software stock opened at $170.24 on Friday. The company has a fifty day simple moving average of $162.09 and a 200-day simple moving average of $168.28. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.39 and a beta of 1.17. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $279.96.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. The company had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. On average, research analysts anticipate that Paycom Software, Inc. will post 6.67 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is currently 18.27%.

About Paycom Software

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.