Pictet Asset Management Holding SA Trims Holdings in Paycom Software, Inc. (NYSE:PAYC)

Pictet Asset Management Holding SA trimmed its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,696 shares of the software maker's stock after selling 2,624 shares during the quarter. Pictet Asset Management Holding SA's holdings in Paycom Software were worth $5,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sylebra Capital LLC increased its holdings in Paycom Software by 0.3% in the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker's stock worth $326,888,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Paycom Software by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker's stock worth $237,015,000 after buying an additional 45,404 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Paycom Software by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock valued at $102,090,000 after acquiring an additional 11,611 shares in the last quarter. Boston Trust Walden Corp lifted its position in shares of Paycom Software by 3.3% during the 4th quarter. Boston Trust Walden Corp now owns 359,695 shares of the software maker's stock valued at $73,727,000 after acquiring an additional 11,595 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Paycom Software by 14.5% in the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker's stock worth $54,305,000 after purchasing an additional 41,187 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of research analyst reports. Citigroup cut their price objective on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus decreased their price objective on Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research report on Thursday, February 13th. Barclays reduced their price target on shares of Paycom Software from $229.00 to $221.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $212.80.

Insider Activity

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the sale, the chief operating officer now directly owns 50,665 shares of the company's stock, valued at $10,750,606.35. This represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now owns 7,730 shares of the company's stock, valued at $1,686,840.60. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock valued at $1,476,024 in the last three months. Company insiders own 14.50% of the company's stock.

Paycom Software Trading Down 1.7 %

Shares of PAYC traded down $3.33 on Tuesday, reaching $193.20. 974,189 shares of the company's stock traded hands, compared to its average volume of 723,787. The stock's 50 day simple moving average is $211.90 and its two-hundred day simple moving average is $205.66. The stock has a market cap of $11.06 billion, a PE ratio of 21.71, a PEG ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its 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 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software's payout ratio is 16.85%.

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.