Sylebra Capital LLC Invests $253.20 Million in Paycom Software, Inc. (NYSE:PAYC)

Sylebra Capital LLC purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,272,278 shares of the software maker’s stock, valued at approximately $253,196,000. Paycom Software comprises about 8.4% of Sylebra Capital LLC’s investment portfolio, making the stock its 4th biggest position.

Other large investors have also recently bought and sold shares of the company. Raymond James & Associates increased its stake in Paycom Software by 25.4% in the 4th quarter. Raymond James & Associates now owns 15,614 shares of the software maker’s stock valued at $3,228,000 after buying an additional 3,164 shares during the period. Copeland Capital Management LLC increased its stake in shares of Paycom Software by 65.0% during the fourth quarter. Copeland Capital Management LLC now owns 5,160 shares of the software maker’s stock worth $1,067,000 after acquiring an additional 2,033 shares during the period. Fifth Third Bancorp raised its holdings in Paycom Software by 37.9% during the fourth quarter. Fifth Third Bancorp now owns 1,568 shares of the software maker’s stock worth $324,000 after purchasing an additional 431 shares in the last quarter. JB Capital LLC purchased a new position in Paycom Software during the fourth quarter worth about $229,000. Finally, First Citizens Bank & Trust Co. acquired a new stake in Paycom Software in the fourth quarter valued at about $2,406,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. boosted their target price on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Barclays cut their price target on shares of Paycom Software from $184.00 to $161.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. William Blair reiterated a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Finally, Mizuho lowered their target price on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Seventeen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Paycom Software currently has a consensus rating of “Hold” and an average target price of $236.38.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $165.55, for a total transaction of $322,822.50. Following the transaction, the chief executive officer now owns 2,998,358 shares of the company’s stock, valued at approximately $496,378,166.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $165.55, for a total value of $322,822.50. Following the completion of the sale, the chief executive officer now owns 2,998,358 shares in the company, valued at approximately $496,378,166.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Amy Vickroy sold 1,381 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the transaction, the executive vice president now owns 19,962 shares in the company, valued at $2,862,351.18. The disclosure for this sale can be found here. In the last three months, insiders sold 54,937 shares of company stock valued at $8,395,458. Company insiders own 14.50% of the company’s stock.

Paycom Software Price Performance

NYSE:PAYC traded up $1.24 during trading hours on Tuesday, reaching $165.47. 641,878 shares of the company traded hands, compared to its average volume of 845,008. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $374.04. The stock has a market cap of $9.62 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.72 and a beta of 1.16. The firm’s 50-day moving average is $151.29 and its 200-day moving average is $175.54.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The business had revenue of $499.88 million for the quarter, compared to analyst estimates of $495.89 million. As a group, research analysts predict that Paycom Software, Inc. will post 6.36 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently announced 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 is Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a yield of 0.91%. Paycom Software’s dividend payout ratio (DPR) is currently 18.27%.

Paycom Software Company 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.