Prosperity Wealth Management Inc. Sells 2,940 Shares of Paycom Software, Inc. (NYSE:PAYC)

Prosperity Wealth Management Inc. reduced its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 48.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,130 shares of the software maker's stock after selling 2,940 shares during the quarter. Prosperity Wealth Management Inc.'s holdings in Paycom Software were worth $642,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wealthfront Advisers LLC acquired a new position in shares of Paycom Software during the fourth quarter worth about $2,942,000. Citizens Financial Group Inc. RI boosted its position in shares of Paycom Software by 28.2% during the fourth quarter. Citizens Financial Group Inc. RI now owns 1,789 shares of the software maker's stock worth $367,000 after buying an additional 394 shares during the period. Simplicity Wealth LLC acquired a new position in Paycom Software during the fourth quarter valued at approximately $234,000. Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in Paycom Software by 2.7% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 25,628 shares of the software maker's stock valued at $5,253,000 after purchasing an additional 681 shares during the last quarter. Finally, Amundi boosted its position in Paycom Software by 4.9% during the fourth quarter. Amundi now owns 83,790 shares of the software maker's stock valued at $16,709,000 after purchasing an additional 3,887 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Paycom Software news, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction dated 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 transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction dated 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 owns 50,665 shares of the company's stock, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. KeyCorp raised Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price target for the company in a research report on Monday. Piper Sandler increased their price target 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 reissued a "hold" rating on shares of Paycom Software in a research report on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, 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 research note on Thursday, February 13th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $212.80.

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Paycom Software Price Performance

Paycom Software stock opened at $206.86 on Wednesday. The stock's fifty day moving average price is $208.89 and its two-hundred day moving average price is $198.89. The firm has a market cap of $11.85 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. 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 issued its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating 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%. Sell-side analysts expect 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 will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software's payout ratio is presently 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.

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