CANADA LIFE ASSURANCE Co Trims Stock Position in Paycom Software, Inc. (NYSE:PAYC)

CANADA LIFE ASSURANCE Co decreased its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 9.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,400 shares of the software maker's stock after selling 5,335 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.09% of Paycom Software worth $10,316,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. FMR LLC increased its position in Paycom Software by 137.8% during the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock worth $491,201,000 after acquiring an additional 1,388,533 shares during the period. Geode Capital Management LLC grew its position in shares of Paycom Software by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker's stock worth $310,245,000 after purchasing an additional 89,848 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Paycom Software by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock worth $102,090,000 after purchasing an additional 11,611 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Paycom Software by 1,153.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock valued at $82,375,000 after buying an additional 369,825 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its stake in shares of Paycom Software by 3.3% in the fourth quarter. Boston Trust Walden Corp now owns 359,695 shares of the software maker's stock valued at $73,727,000 after buying an additional 11,595 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Paycom Software from $191.00 to $224.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. JPMorgan Chase & Co. upped their price objective on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. 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 research report on Monday, March 10th. Citigroup dropped their target price on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Barclays lowered their price objective on shares of Paycom Software from $229.00 to $221.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Paycom Software has an average rating of "Hold" and a consensus target price of $212.80.

Paycom Software Stock Up 1.0 %

Paycom Software stock traded up $2.22 during trading on Friday, hitting $228.08. The stock had a trading volume of 348,913 shares, compared to its average volume of 715,145. The stock's 50 day moving average is $214.55 and its two-hundred day moving average is $209.49. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The stock has a market cap of $13.19 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software's dividend payout ratio is 16.85%.

Insider Buying and Selling

In other news, Director J C. Watts, Jr. sold 500 shares of the company's stock in a transaction dated Monday, February 24th. The stock was 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 directly owns 7,730 shares in the company, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the sale, the insider now directly owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,100 shares of company stock worth $1,476,024 over the last ninety days. 10.90% of the stock is owned by corporate insiders.

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.