Paycom Software, Inc. (NYSE:PAYC) Stock Position Lowered by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 14.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 460,980 shares of the software maker's stock after selling 79,660 shares during the quarter. Federated Hermes Inc. owned about 0.80% of Paycom Software worth $94,485,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Paycom Software during the fourth quarter valued at about $30,000. IFP Advisors Inc boosted its position in Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock valued at $43,000 after buying an additional 178 shares during the last quarter. Blue Trust Inc. increased its holdings in Paycom Software by 33.3% in the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock worth $72,000 after buying an additional 88 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Paycom Software during the 3rd quarter worth approximately $79,000. Finally, Huntington National Bank lifted its stake in Paycom Software by 46.5% during the 4th quarter. Huntington National Bank now owns 551 shares of the software maker's stock valued at $113,000 after acquiring an additional 175 shares during the period. 87.77% of the stock is owned by institutional investors.

Paycom Software Price Performance

Shares of NYSE:PAYC traded up $5.43 during mid-day trading on Friday, reaching $215.65. 406,694 shares of the company were exchanged, compared to its average volume of 723,150. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 24.23, a P/E/G ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The firm's 50-day simple moving average is $212.70 and its 200 day simple moving average is $206.65.

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Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data 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, research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Monday, March 10th. Paycom Software's payout ratio is currently 16.85%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PAYC. Barclays lowered their price target on shares of Paycom Software from $229.00 to $221.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday, February 13th. StockNews.com cut shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Citigroup reduced their target price on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, Piper Sandler upped their price target on Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Paycom Software has a consensus rating of "Hold" and a consensus price target of $212.80.

Insider Buying and Selling at Paycom Software

In related 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 transaction of $109,110.00. Following the transaction, the director now directly owns 7,730 shares of the company's stock, valued at approximately $1,686,840.60. The trade was a 6.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction dated 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 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. Over the last three months, insiders have sold 7,100 shares of company stock worth $1,476,024. 14.50% of the stock is owned by company 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.