HUB Investment Partners LLC Sells 2,630 Shares of Paycom Software, Inc. (NYSE:PAYC)

HUB Investment Partners LLC decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,467 shares of the software maker's stock after selling 2,630 shares during the quarter. HUB Investment Partners LLC owned approximately 0.10% of Paycom Software worth $11,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAYC. JPMorgan Chase & Co. grew its holdings in Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker's stock valued at $54,305,000 after buying an additional 41,187 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Paycom Software in the fourth quarter valued at about $7,142,000. FMR LLC increased its position 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 acquiring 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 period. Finally, Friedenthal Financial acquired a new position in shares of Paycom Software during the 4th quarter worth approximately $776,000. 87.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PAYC. Citigroup dropped their price target 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. StockNews.com downgraded Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Piper Sandler raised their price target on Paycom Software from $191.00 to $224.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Stifel Nicolaus cut their price objective on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a research report on Thursday, February 13th. Finally, TD Cowen raised their target price on shares of Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a report on Monday, December 9th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $212.80.

Remove Ads

Paycom Software Trading Up 2.4 %

Paycom Software stock traded up $5.13 during mid-day trading on Monday, reaching $223.43. The company had a trading volume of 580,339 shares, compared to its average volume of 709,452. The business has a fifty day simple moving average of $210.97 and a 200 day simple moving average of $202.19. The company has a market cap of $12.79 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

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, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. Research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

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

Insider Activity at Paycom Software

In other Paycom Software news, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now owns 7,730 shares of the company's stock, valued at $1,686,840.60. This trade represents a 6.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Randall Peck sold 3,600 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the sale, the chief operating officer now owns 50,665 shares of the company's stock, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock worth $1,476,024 in the last quarter. Company insiders own 14.50% of the company's stock.

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.