BNP PARIBAS ASSET MANAGEMENT Holding S.A. Cuts Position in Paycom Software, Inc. (NYSE:PAYC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its position in Paycom Software, Inc. (NYSE:PAYC) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 621,022 shares of the software maker’s stock after selling 5,624 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 1.07% of Paycom Software worth $88,831,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PAYC. Vanguard Group Inc. increased its holdings in shares of Paycom Software by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after acquiring an additional 137,583 shares during the last quarter. Sylebra Capital LLC acquired a new stake in shares of Paycom Software in the 1st quarter valued at about $253,196,000. Brown Capital Management LLC grew its position in shares of Paycom Software by 10.1% during the fourth quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock worth $228,642,000 after acquiring an additional 101,744 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after purchasing an additional 92,049 shares during the last quarter. Finally, Riverbridge Partners LLC grew its holdings in shares of Paycom Software by 31.7% during the first quarter. Riverbridge Partners LLC now owns 618,570 shares of the software maker’s stock worth $123,102,000 after buying an additional 148,962 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $163.12, for a total value of $318,084.00. Following the completion of the transaction, the chief executive officer now directly owns 3,534,499 shares of the company’s stock, valued at $576,547,476.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Craig E. Boelte sold 11,882 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the transaction, the chief financial officer now owns 294,849 shares of the company’s stock, valued at $45,990,547.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $163.12, for a total transaction of $318,084.00. Following the completion of the sale, the chief executive officer now directly owns 3,534,499 shares of the company’s stock, valued at $576,547,476.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,093 shares of company stock valued at $11,936,373. 14.50% of the stock is owned by corporate insiders.

Paycom Software Price Performance

PAYC traded down $0.77 during midday trading on Friday, reaching $162.78. 648,397 shares of the company’s stock were exchanged, compared to its average volume of 839,558. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $299.00. The stock has a market capitalization of $9.46 billion, a PE ratio of 19.83, a P/E/G ratio of 2.22 and a beta of 1.16. The business’s 50-day moving average price is $155.18 and its 200 day moving average price is $170.35.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.92%. Paycom Software’s dividend payout ratio is currently 18.27%.

Wall Street Analyst Weigh In

PAYC has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. William Blair reaffirmed a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. TD Cowen increased their target price on Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group decreased their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Seventeen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus price target of $178.33.

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.