Daiwa Securities Group Inc. Sells 2,358 Shares of Paycom Software, Inc. (NYSE:PAYC)

Daiwa Securities Group Inc. trimmed its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 13.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,846 shares of the software maker's stock after selling 2,358 shares during the period. Daiwa Securities Group Inc.'s holdings in Paycom Software were worth $3,248,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PAYC. Brooklyn Investment Group bought a new position in shares of Paycom Software in the 3rd quarter worth $28,000. Pin Oak Investment Advisors Inc. boosted its position in shares of Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker's stock worth $30,000 after purchasing an additional 77 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker's stock worth $35,000 after purchasing an additional 189 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Paycom Software by 635.7% in the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock worth $43,000 after purchasing an additional 178 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Paycom Software by 33.3% in the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock worth $72,000 after purchasing an additional 88 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insider Activity at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $218.22, for a total value of $109,110.00. Following the sale, the director now owns 7,730 shares of the company's stock, valued at approximately $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. 14.50% of the stock is owned by company insiders.

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Paycom Software Price Performance

Shares of PAYC traded up $7.87 during midday trading on Monday, hitting $215.86. The stock had a trading volume of 898,009 shares, compared to its average volume of 701,669. The company has a 50 day simple moving average of $209.04 and a two-hundred day simple moving average of $199.78. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) 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%. Analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Monday, March 10th. Paycom Software's dividend payout ratio is currently 16.85%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PAYC. KeyCorp upgraded Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price target on the stock in a research report on Monday, March 10th. StockNews.com lowered Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Mizuho raised their price target on Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. TD Cowen lifted their target price on Paycom Software from $193.00 to $248.00 and gave the stock a "hold" rating in a report on Monday, December 9th. Finally, Stifel Nicolaus reduced their target price on Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $212.80.

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.