Commonwealth Equity Services LLC Cuts Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Commonwealth Equity Services LLC lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,647 shares of the software maker's stock after selling 2,524 shares during the quarter. Commonwealth Equity Services LLC's holdings in Paycom Software were worth $4,232,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Knuff & Co LLC lifted its position in Paycom Software by 234.0% in the 4th quarter. Knuff & Co LLC now owns 1,189 shares of the software maker's stock valued at $244,000 after acquiring an additional 833 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Paycom Software by 118.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 698 shares of the software maker's stock valued at $143,000 after purchasing an additional 378 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Paycom Software during the fourth quarter valued at approximately $256,000. HighTower Advisors LLC grew its holdings in Paycom Software by 1.2% during the fourth quarter. HighTower Advisors LLC now owns 15,215 shares of the software maker's stock worth $3,119,000 after buying an additional 184 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Paycom Software in the 4th quarter valued at $2,942,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PAYC. KeyCorp raised shares of Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price objective on the stock in a report on Monday, March 10th. Piper Sandler upped their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. StockNews.com cut shares of Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Barclays reduced their target price 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. Finally, Stifel Nicolaus dropped their price target on Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a report 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $212.80.

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Paycom Software Stock Down 0.4 %

Paycom Software stock traded down $0.86 during midday trading on Tuesday, reaching $222.82. The stock had a trading volume of 188,294 shares, compared to its average volume of 653,943. The firm has a market capitalization of $12.76 billion, a PE ratio of 25.04, a P/E/G 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's 50-day moving average price is $210.97 and its 200 day moving average price is $202.19.

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

Paycom Software Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.67%. Paycom Software's dividend payout ratio is currently 16.85%.

Insider Transactions at Paycom Software

In related news, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction 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 completion of the sale, the insider now owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. This trade represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the company's stock in a transaction dated 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 owns 7,730 shares in the company, valued at $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock valued at $1,476,024 over the last three months. 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.