Wells Fargo & Company MN Purchases 9,755 Shares of Paycom Software, Inc. (NYSE:PAYC)

Wells Fargo & Company MN raised its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,580 shares of the software maker's stock after acquiring an additional 9,755 shares during the period. Wells Fargo & Company MN owned about 0.41% of Paycom Software worth $48,287,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PAYC. Systematic Alpha Investments LLC bought a new stake in shares of Paycom Software during the 4th quarter valued at approximately $233,000. Landscape Capital Management L.L.C. acquired a new stake in Paycom Software in the fourth quarter valued at approximately $270,000. Uniting Wealth Partners LLC bought a new stake in shares of Paycom Software during the fourth quarter worth $410,000. ExodusPoint Capital Management LP acquired a new position in shares of Paycom Software during the fourth quarter worth $1,355,000. Finally, World Investment Advisors bought a new position in shares of Paycom Software in the 4th quarter valued at $261,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PAYC. StockNews.com lowered Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, February 13th. Stifel Nicolaus lowered their price objective on Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, Piper Sandler upped their price target on shares of Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $212.80.

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Insiders Place Their Bets

In other Paycom Software news, 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 value 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. This represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the transaction, the insider now owns 28,733 shares in the company, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,100 shares of company stock worth $1,476,024. Corporate insiders own 14.50% of the company's stock.

Paycom Software Price Performance

Shares of PAYC traded up $1.76 during trading hours on Tuesday, hitting $220.03. 64,325 shares of the stock were exchanged, compared to its average volume of 719,716. The firm has a market capitalization of $12.73 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The business has a 50-day moving average of $212.94 and a 200-day moving average of $207.28.

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

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software's dividend payout ratio (DPR) 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.