Vanguard Group Inc. Sells 45,451 Shares of Paycom Software, Inc. (NYSE:PAYC)

Vanguard Group Inc. reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,616,253 shares of the software maker's stock after selling 45,451 shares during the period. Vanguard Group Inc. owned 9.74% of Paycom Software worth $1,151,163,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAYC. Sylebra Capital LLC raised its position in shares of 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 acquiring an additional 5,000 shares during the last quarter. Geode Capital Management LLC increased its position in 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 valued at $237,015,000 after purchasing an additional 45,404 shares during the period. FMR LLC raised its holdings in Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock worth $167,889,000 after purchasing an additional 357,723 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 purchasing an additional 11,611 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its position 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 worth $73,727,000 after purchasing an additional 11,595 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Mizuho lifted their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. KeyCorp raised Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price objective for the company in a research report on Monday, March 10th. Piper Sandler upped their target price on Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a report on Thursday, February 13th. Finally, 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 report on Thursday, January 23rd. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software currently has an average rating of "Hold" and an average price target of $212.80.

Insider Activity at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of the 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 completion of the sale, the director now directly owns 7,730 shares of the company's stock, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $763,884.00. Following the completion of the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. This represents a 6.63 % 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 valued at $1,476,024. 14.50% of the stock is owned by insiders.

Paycom Software Stock Performance

Shares of Paycom Software stock traded up $2.49 during trading hours on Tuesday, reaching $220.97. The company's stock had a trading volume of 670,895 shares, compared to its average volume of 723,319. The company has a market capitalization of $12.65 billion, a P/E ratio of 24.83, a P/E/G ratio of 2.40 and a beta of 1.14. The stock's fifty day simple moving average is $212.72 and its two-hundred day simple moving average is $204.57. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share 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%. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software's payout ratio is currently 16.85%.

About Paycom Software

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.