1,557 Shares in Paycom Software, Inc. (NYSE:PAYC) Acquired by Allstate Corp

Allstate Corp bought a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,557 shares of the software maker's stock, valued at approximately $319,000.

A number of other institutional investors and hedge funds have also modified their holdings of PAYC. JPMorgan Chase & Co. lifted its holdings in Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker's stock valued at $54,305,000 after purchasing an additional 41,187 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Paycom Software in the fourth quarter valued at about $7,142,000. Nordea Investment Management AB lifted its stake in shares of Paycom Software by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker's stock worth $41,952,000 after buying an additional 6,916 shares in the last quarter. Glenview Trust co boosted its position in Paycom Software by 27.1% during the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock worth $2,520,000 after acquiring an additional 2,625 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in Paycom Software during the 4th quarter valued at about $776,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Performance

Shares of Paycom Software stock traded down $2.21 on Monday, reaching $195.90. The company had a trading volume of 1,213,862 shares, compared to its average volume of 722,723. The firm's 50 day moving average price is $212.58 and its two-hundred day moving average price is $205.59. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The firm has a market cap of $11.22 billion, a PE ratio of 22.01, a PEG ratio of 2.40 and a beta of 0.97.

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Paycom Software (NYSE:PAYC - Get Free Report) last announced its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating 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, sell-side analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software's dividend payout ratio (DPR) is 16.85%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in 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. 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. StockNews.com downgraded Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price target on shares of Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus cut their price objective 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. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $212.80.

Insider Buying and Selling at Paycom Software

In other news, 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 sale, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the transaction, the director now owns 7,730 shares of the company's stock, valued at approximately $1,686,840.60. This trade represents a 6.08 % 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 three months. 14.50% of the stock is owned by corporate insiders.

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.