Avantax Advisory Services Inc. Sells 2,906 Shares of Paycom Software, Inc. (NYSE:PAYC)

Avantax Advisory Services Inc. cut its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 41.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,048 shares of the software maker's stock after selling 2,906 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Paycom Software were worth $830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sylebra Capital LLC increased its stake in shares of Paycom Software by 0.3% in the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker's stock worth $326,888,000 after acquiring an additional 5,000 shares during the last quarter. Geode Capital Management LLC increased its position in Paycom Software by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker's stock worth $237,015,000 after purchasing an additional 45,404 shares during the last quarter. FMR LLC raised its stake in shares of Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock worth $167,889,000 after purchasing an additional 357,723 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Paycom Software by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker's stock valued at $104,524,000 after buying an additional 6,488 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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 buying an additional 11,611 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PAYC shares. Stifel Nicolaus reduced their target price on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, February 13th. Mizuho upped their price target on Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. TD Cowen raised their price objective on Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a research note on Monday, December 9th. Finally, StockNews.com cut Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Paycom Software has an average rating of "Hold" and an average target price of $212.80.

Paycom Software Stock Performance

Shares of PAYC stock traded up $5.13 during mid-day trading on Monday, reaching $223.43. The company's stock had a trading volume of 580,339 shares, compared to its average volume of 709,452. The firm's 50-day moving average is $210.52 and its two-hundred day moving average is $201.72. The company has a market cap of $12.79 billion, a P/E ratio of 25.10, a PEG ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last posted 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 net margin of 26.66% and a return on equity of 33.53%. Sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software's dividend payout ratio is 16.85%.

Insider Buying and Selling at Paycom Software

In other 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 value of $109,110.00. Following the transaction, the director now directly owns 7,730 shares of the company's stock, valued at $1,686,840.60. The trade was a 6.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the firm'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 sale, the insider now directly owns 28,733 shares of the company's stock, valued at $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock worth $1,476,024 over the last three months. Company insiders own 14.50% of the company's stock.

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.