Alliancebernstein L.P. Sells 1,952 Shares of Paycom Software, Inc. (NYSE:PAYC)

Alliancebernstein L.P. cut its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,993 shares of the software maker's stock after selling 1,952 shares during the quarter. Alliancebernstein L.P. owned approximately 0.10% of Paycom Software worth $12,297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PAYC. HighTower Advisors LLC boosted its holdings in shares of Paycom Software by 4.7% during the third quarter. HighTower Advisors LLC now owns 15,031 shares of the software maker's stock worth $2,474,000 after acquiring an additional 672 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Paycom Software during the 3rd quarter worth approximately $206,000. Stifel Financial Corp boosted its stake in Paycom Software by 18.5% in the 3rd quarter. Stifel Financial Corp now owns 41,071 shares of the software maker's stock valued at $6,841,000 after purchasing an additional 6,421 shares during the period. Wellington Management Group LLP grew its holdings in Paycom Software by 144.6% in the 3rd quarter. Wellington Management Group LLP now owns 16,803 shares of the software maker's stock valued at $2,799,000 after buying an additional 9,933 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in Paycom Software during the 3rd quarter worth $247,000. Institutional investors own 87.77% of the company's stock.

Insider Transactions at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 50,665 shares of the company's stock, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction 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 transaction, the director now directly owns 7,730 shares in the company, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock worth $1,476,024 over the last ninety days. 14.50% of the stock is owned by insiders.

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Paycom Software Trading Up 0.9 %

Paycom Software stock traded up $2.06 during midday trading on Tuesday, reaching $220.33. The company's stock had a trading volume of 54,719 shares, compared to its average volume of 719,671. The business has a 50-day moving average price of $212.94 and a 200-day moving average price of $207.28. The stock has a market cap of $12.75 billion, a PE ratio of 24.76, a price-to-earnings-growth 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 issued its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. As a group, research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software's dividend payout ratio is currently 16.85%.

Wall Street Analyst Weigh In

Several research firms recently commented on PAYC. JPMorgan Chase & Co. upped their price target 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. Barclays decreased their target price on shares of Paycom Software from $229.00 to $221.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. Stifel Nicolaus dropped their price target on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a research report on Thursday, February 13th. StockNews.com downgraded Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, Citigroup lowered their price objective on Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $212.80.

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.