Sentry Investment Management LLC Reduces Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Sentry Investment Management LLC lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 23.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152 shares of the software maker’s stock after selling 46 shares during the period. Sentry Investment Management LLC’s holdings in Paycom Software were worth $33,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc lifted its position in shares of Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock worth $26,000 after acquiring an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Paycom Software during the fourth quarter worth $30,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock worth $33,000 after acquiring an additional 87 shares in the last quarter. Putney Financial Group LLC purchased a new stake in shares of Paycom Software during the fourth quarter worth $39,000. Finally, IFP Advisors Inc lifted its position in shares of Paycom Software by 635.7% during the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after acquiring an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Transactions at Paycom Software

In other news, insider Bradley Scott Smith sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the sale, the insider now owns 28,733 shares of the company’s stock, valued at $5,775,620.33. This trade represents a 9.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Chad R. Richison sold 23,200 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the sale, the chief executive officer now directly owns 3,224,049 shares in the company, valued at approximately $855,017,794.80. The trade was a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 173,516 shares of company stock valued at $42,964,698 in the last three months. 10.90% of the stock is currently owned by company insiders.

Paycom Software Stock Up 0.7%

NYSE:PAYC opened at $265.69 on Friday. The company has a fifty day moving average of $234.68 and a 200 day moving average of $221.85. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $267.76. The firm has a market capitalization of $15.37 billion, a P/E ratio of 29.85, a P/E/G ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million for the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.59 EPS. As a group, analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Tuesday, May 27th. Paycom Software’s dividend payout ratio is presently 21.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PAYC shares. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. Wall Street Zen cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. raised their price target on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. KeyCorp boosted their price target on shares of Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Finally, Piper Sandler boosted their price target on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $226.90.

Paycom Software Profile

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.