Wealthfront Advisers LLC Purchases Shares of 14,354 Paycom Software, Inc. (NYSE:PAYC)

Wealthfront Advisers LLC acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,354 shares of the software maker's stock, valued at approximately $2,942,000.

Several other institutional investors and hedge funds also recently bought and sold shares of PAYC. Citizens Financial Group Inc. RI grew its holdings in shares of Paycom Software by 28.2% during the 4th quarter. Citizens Financial Group Inc. RI now owns 1,789 shares of the software maker's stock valued at $367,000 after acquiring an additional 394 shares in the last quarter. Simplicity Wealth LLC purchased a new position in Paycom Software in the fourth quarter valued at about $234,000. Schaper Benz & Wise Investment Counsel Inc. WI increased its position in Paycom Software by 2.7% in the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 25,628 shares of the software maker's stock worth $5,253,000 after purchasing an additional 681 shares during the last quarter. Amundi raised its stake in shares of Paycom Software by 4.9% during the 4th quarter. Amundi now owns 83,790 shares of the software maker's stock worth $16,709,000 after purchasing an additional 3,887 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Paycom Software by 4.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,961 shares of the software maker's stock worth $1,222,000 after purchasing an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Performance

Shares of Paycom Software stock traded up $7.87 during trading on Monday, reaching $215.86. The company's stock had a trading volume of 898,009 shares, compared to its average volume of 701,669. The business's fifty day moving average price is $209.04 and its 200-day moving average price is $199.78. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14.

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Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS 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%. Sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be 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 of this dividend is Monday, March 10th. Paycom Software's dividend payout ratio (DPR) is presently 16.85%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PAYC. Barclays dropped their price objective 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. Mizuho increased their price target 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 upgraded shares of Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price target on the stock in a report on Monday, March 10th. Stifel Nicolaus decreased their price objective on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a report on Thursday, February 13th. Finally, TD Cowen raised their target price on Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a report on Monday, December 9th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $212.80.

Insiders Place Their Bets

In other news, Director J C. Watts, Jr. sold 500 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were 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 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 position. The transaction was disclosed in a legal filing 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 transaction of $763,884.00. Following the sale, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 14.50% of the company's stock.

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.