Advisory Services Network LLC Purchases 4,408 Shares of Paycom Software, Inc. (NYSE:PAYC)

Advisory Services Network LLC boosted its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 41.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,105 shares of the software maker's stock after buying an additional 4,408 shares during the quarter. Advisory Services Network LLC's holdings in Paycom Software were worth $3,096,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the company. HighTower Advisors LLC lifted its holdings in shares of Paycom Software by 4.7% in the 3rd quarter. HighTower Advisors LLC now owns 15,031 shares of the software maker's stock worth $2,474,000 after purchasing an additional 672 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Paycom Software in the 3rd quarter worth about $206,000. Stifel Financial Corp raised its holdings in Paycom Software by 18.5% during the third quarter. Stifel Financial Corp now owns 41,071 shares of the software maker's stock valued at $6,841,000 after buying an additional 6,421 shares in the last quarter. Wellington Management Group LLP raised its holdings in Paycom Software by 144.6% in the 3rd quarter. Wellington Management Group LLP now owns 16,803 shares of the software maker's stock worth $2,799,000 after acquiring an additional 9,933 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Paycom Software in the third quarter worth $247,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of recent analyst reports. Stifel Nicolaus dropped their price target 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 decreased 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 note on Thursday, January 16th. Piper Sandler raised their target price on shares of Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. KeyCorp upgraded Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price target for the company in a research note on Monday, March 10th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday, February 13th. Twelve research 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, Paycom Software presently has a consensus rating of "Hold" and a consensus price target of $212.80.

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Paycom Software Stock Down 0.6 %

NYSE:PAYC traded down $1.33 on Wednesday, reaching $217.96. 78,455 shares of the company's stock were exchanged, compared to its average volume of 719,167. The business has a fifty day moving average of $213.23 and a 200-day moving average of $207.37. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

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

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Monday, March 10th. Paycom Software's dividend payout ratio is presently 16.85%.

Insider Activity at Paycom Software

In other news, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the transaction, the chief operating officer now directly owns 50,665 shares of the company's stock, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J C. Watts, Jr. sold 500 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 7,730 shares of the company's stock, valued at approximately $1,686,840.60. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,100 shares of company stock valued at $1,476,024. 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.