Envestnet Asset Management Inc. Reduces Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Envestnet Asset Management Inc. trimmed its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 340,287 shares of the software maker's stock after selling 15,806 shares during the quarter. Envestnet Asset Management Inc. owned about 0.59% of Paycom Software worth $69,749,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Private Trust Co. NA boosted its stake in Paycom Software by 9.3% during the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock worth $118,000 after acquiring an additional 49 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Paycom Software by 1.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock valued at $602,000 after buying an additional 51 shares during the period. Michael S. Ryan Inc. increased its position in shares of Paycom Software by 2.5% during the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker's stock worth $573,000 after acquiring an additional 68 shares in the last quarter. Valley National Advisers Inc. raised its holdings in shares of Paycom Software by 0.7% during the fourth quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker's stock worth $2,192,000 after acquiring an additional 72 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Paycom Software by 0.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 20,240 shares of the software maker's stock worth $4,184,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

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Analyst Ratings Changes

A number of research analysts recently issued reports on PAYC shares. Stifel Nicolaus decreased their price objective on Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a report on Thursday, February 13th. Citigroup lowered their target price on Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. StockNews.com cut Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research report on Thursday, February 13th. Finally, Barclays cut their price objective on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Paycom Software has an average rating of "Hold" and a consensus target price of $212.80.

Insider Transactions at Paycom Software

In other Paycom Software news, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 7,730 shares in the company, valued at $1,686,840.60. This represents a 6.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software 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 position. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock worth $1,476,024 over the last quarter. Corporate insiders own 14.50% of the company's stock.

Paycom Software Trading Up 0.9 %

Shares of PAYC traded up $1.91 during trading hours on Tuesday, reaching $220.18. The stock had a trading volume of 64,325 shares, compared to its average volume of 719,716. The firm has a 50-day simple moving average of $212.94 and a 200 day simple moving average of $207.28. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The company has a market capitalization of $12.74 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. On average, equities analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.68%. Paycom Software's dividend payout ratio is presently 16.85%.

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.