Associated Banc Corp Reduces Holdings in Paycom Software, Inc. (NYSE:PAYC)

Associated Banc Corp reduced its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144,477 shares of the software maker's stock after selling 1,543 shares during the quarter. Associated Banc Corp owned about 0.25% of Paycom Software worth $29,613,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYC. FMR LLC lifted its stake in shares of Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock worth $167,889,000 after acquiring an additional 357,723 shares during the period. Raymond James Financial Inc. acquired a new position in Paycom Software in the fourth quarter valued at approximately $63,923,000. Strategic Financial Concepts LLC acquired a new position in Paycom Software in the fourth quarter valued at approximately $42,893,000. Charles Schwab Investment Management Inc. lifted its stake in Paycom Software by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker's stock valued at $81,030,000 after buying an additional 151,807 shares during the period. Finally, Aureus Asset Management LLC lifted its stake in Paycom Software by 417.8% in the third quarter. Aureus Asset Management LLC now owns 133,214 shares of the software maker's stock valued at $22,189,000 after buying an additional 107,487 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the company's 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 transaction, the chief operating officer now owns 50,665 shares in the company, valued at $10,750,606.35. This represents a 6.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock worth $1,476,024 in the last quarter. 14.50% of the stock is currently owned by company insiders.

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Paycom Software Trading Up 0.3 %

Paycom Software stock traded up $0.68 during trading on Wednesday, hitting $217.71. 578,981 shares of the company were exchanged, compared to its average volume of 700,830. The business's 50 day moving average is $209.51 and its 200 day moving average is $200.53. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The company has a market capitalization of $12.47 billion, a P/E ratio of 24.46, a PEG ratio of 2.40 and a beta of 1.14.

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

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a $0.375 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. Paycom Software's dividend payout ratio (DPR) is presently 16.85%.

Analyst Ratings Changes

PAYC has been the topic of several recent analyst reports. Citigroup dropped their price target 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. Barclays dropped their price target on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Mizuho boosted their price target on Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. StockNews.com downgraded Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, Piper Sandler boosted their price objective on Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $212.80.

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.