Invesco Ltd. Sells 231,767 Shares of Paycom Software, Inc. (NYSE:PAYC)

Invesco Ltd. lessened its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 16.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,174,881 shares of the software maker's stock after selling 231,767 shares during the period. Invesco Ltd. owned about 2.04% of Paycom Software worth $240,815,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research firms recently issued reports on PAYC. StockNews.com downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. KeyCorp raised Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 target price for the company in a research report on Monday, March 10th. Stifel Nicolaus dropped their target price 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 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 research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Paycom Software currently has an average rating of "Hold" and an average price target of $212.80.

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Paycom Software Trading Down 0.2 %

Shares of NYSE:PAYC traded down $0.41 during mid-day trading on Wednesday, reaching $218.89. The stock had a trading volume of 66,227 shares, compared to its average volume of 656,198. The firm has a 50 day simple moving average of $213.23 and a two-hundred day simple moving average of $207.37. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The firm has a market cap of $12.66 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its 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 net margin of 26.66% and a return on equity of 33.53%. On average, equities analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal 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 issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.69%. Paycom Software's dividend payout ratio is presently 16.85%.

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 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. The trade was a 6.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the firm'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 transaction of $603,030.00. Following the sale, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,100 shares of company stock valued at $1,476,024. Company insiders own 14.50% of the company's stock.

Paycom Software Company 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.