JPMorgan Chase & Co. Lowers Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

JPMorgan Chase & Co. cut its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,650 shares of the software maker's stock after selling 31,368 shares during the period. JPMorgan Chase & Co. owned about 0.51% of Paycom Software worth $60,394,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sylebra Capital LLC lifted its stake in Paycom Software by 0.3% during the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker's stock worth $326,888,000 after purchasing an additional 5,000 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Paycom Software by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker's stock worth $237,015,000 after buying an additional 45,404 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Paycom Software by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock worth $102,090,000 after buying an additional 11,611 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in shares of Paycom Software by 3.3% in the 4th quarter. Boston Trust Walden Corp now owns 359,695 shares of the software maker's stock valued at $73,727,000 after buying an additional 11,595 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Paycom Software in the 4th quarter valued at $63,923,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

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Paycom Software Price Performance

NYSE PAYC traded up $25.34 on Wednesday, hitting $218.41. 1,162,374 shares of the company's stock were exchanged, compared to its average volume of 725,837. The firm has a market cap of $12.51 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 2.40 and a beta of 0.97. The firm's 50-day moving average price is $212.39 and its two-hundred day moving average price is $206.07. 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 announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, research analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal 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 issued a $0.375 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. Paycom Software's dividend payout ratio (DPR) is presently 16.85%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Stifel Nicolaus dropped their price objective on Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Barclays cut their price target on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. Mizuho raised their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. StockNews.com cut shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $212.80.

Insider Activity

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the business's stock in a transaction on 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 directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J C. Watts, Jr. sold 500 shares of the firm's stock in a transaction 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 completion of the transaction, the director now owns 7,730 shares of the company's stock, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,100 shares of company stock worth $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.