Charles Schwab Investment Management Inc. Increases Position in Paycom Software, Inc. (NYSE:PAYC)

Charles Schwab Investment Management Inc. grew its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 498,073 shares of the software maker's stock after buying an additional 11,611 shares during the period. Charles Schwab Investment Management Inc. owned 0.86% of Paycom Software worth $102,090,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PAYC. JPMorgan Chase & Co. increased its stake in shares of Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker's stock worth $54,305,000 after acquiring an additional 41,187 shares during the last quarter. Principal Financial Group Inc. increased its position in Paycom Software by 9.3% during the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock worth $10,962,000 after purchasing an additional 5,574 shares during the last quarter. FMR LLC raised its stake in Paycom Software by 55.0% during the third 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 during the period. Nordea Investment Management AB boosted its holdings in Paycom Software by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker's stock valued at $41,952,000 after purchasing an additional 6,916 shares during the last quarter. Finally, SpiderRock Advisors LLC acquired a new position in Paycom Software in the 3rd quarter valued at about $555,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Paycom Software Trading Down 1.8 %

PAYC traded down $3.73 during trading hours on Thursday, hitting $202.83. 405,915 shares of the company's stock were exchanged, compared to its average volume of 706,832. The firm has a market cap of $11.61 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The firm has a 50 day moving average of $208.92 and a 200 day moving average of $198.95.

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

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software's dividend payout ratio is presently 16.85%.

Insider Buying and Selling at Paycom Software

In other news, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the sale, the director now owns 7,730 shares in the company, valued at approximately $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Randall Peck sold 3,600 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares of the company's stock, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. KeyCorp raised shares of Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price target on the stock in a research report on Monday. Citigroup lowered their price target on Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Piper Sandler boosted their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research report on Thursday, February 13th. Finally, Barclays dropped their price target 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 analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Paycom Software currently has a consensus rating of "Hold" and an average target price of $212.80.

About Paycom Software

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.