Federated Hermes Inc. Cuts Position in Paycom Software, Inc. (NYSE:PAYC)

Federated Hermes Inc. lowered its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 14.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 460,980 shares of the software maker’s stock after selling 79,660 shares during the quarter. Federated Hermes Inc. owned about 0.80% of Paycom Software worth $94,485,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sylebra Capital LLC grew its stake in Paycom Software by 0.3% during the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock worth $326,888,000 after buying an additional 5,000 shares during the period. Geode Capital Management LLC boosted its position in Paycom Software by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker’s stock worth $310,245,000 after purchasing an additional 89,848 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 purchasing an additional 11,611 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Paycom Software by 1,153.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker’s stock valued at $82,375,000 after purchasing an additional 369,825 shares during the period. Finally, Boston Trust Walden Corp lifted its stake in shares of Paycom Software by 3.3% during the fourth quarter. Boston Trust Walden Corp now owns 359,695 shares of the software maker’s stock worth $73,727,000 after purchasing an additional 11,595 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the transaction, the director now owns 7,730 shares in the company, valued at $1,686,840.60. The trade was a 6.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Randall Peck sold 3,600 shares of the stock in a transaction on Friday, February 21st. The stock was 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 $10,750,606.35. This represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,100 shares of company stock valued at $1,476,024 in the last quarter. Insiders own 12.60% of the company’s stock.

Paycom Software Stock Down 7.1 %

Shares of NYSE PAYC opened at $198.22 on Monday. The stock’s 50 day moving average price is $212.92 and its two-hundred day moving average price is $205.42. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The stock has a market capitalization of $11.35 billion, a P/E ratio of 22.27, a PEG ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC) last posted 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%. On average, analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PAYC. KeyCorp upgraded Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 target price on the stock in a report on Monday, March 10th. JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. TD Cowen boosted their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Citigroup lowered their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Stifel Nicolaus cut their price objective on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Twelve analysts have rated the stock with a hold rating and one has assigned 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 $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.