Prudential Financial Inc. Has $5.34 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Prudential Financial Inc. trimmed its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,858 shares of the software maker's stock after selling 3,752 shares during the quarter. Prudential Financial Inc.'s holdings in Paycom Software were worth $5,344,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. IFP Advisors Inc grew its position in Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock valued at $43,000 after acquiring an additional 178 shares during the period. Blue Trust Inc. grew its holdings in shares of Paycom Software by 33.3% in the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock worth $72,000 after purchasing an additional 88 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Paycom Software in the 3rd quarter worth about $79,000. Private Trust Co. NA increased its position in shares of Paycom Software by 9.3% during the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock worth $118,000 after purchasing an additional 49 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Paycom Software by 81.1% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the software maker's stock valued at $120,000 after purchasing an additional 262 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

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Insider Buying and Selling

In other Paycom Software news, Director J C. Watts, Jr. sold 500 shares of the business's stock in a transaction dated 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 owns 7,730 shares of the company's stock, valued at $1,686,840.60. The trade was a 6.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Randall Peck sold 3,600 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,100 shares of company stock valued at $1,476,024. Company insiders own 12.60% of the company's stock.

Paycom Software Stock Performance

PAYC traded down $2.32 on Wednesday, hitting $218.58. 527,670 shares of the company were exchanged, compared to its average volume of 720,816. The stock's fifty day moving average is $212.72 and its 200-day moving average is $204.57. The company has a market cap of $12.52 billion, a PE ratio of 24.56, a PEG ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month 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 EPS for the quarter, beating analysts' consensus estimates 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, equities research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on PAYC. StockNews.com downgraded Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Piper Sandler raised their target price on Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Stifel Nicolaus reduced their price target on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday, February 13th. Finally, Mizuho lifted their target price on Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $212.80.

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.