Uniting Wealth Partners LLC Purchases New Shares in Paycom Software, Inc. (NYSE:PAYC)

Uniting Wealth Partners LLC acquired a new position in Paycom Software, Inc. (NYSE:PAYC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,000 shares of the software maker’s stock, valued at approximately $410,000.

Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after purchasing an additional 41,187 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Paycom Software in the fourth quarter worth approximately $7,142,000. Nordea Investment Management AB grew its stake in shares of Paycom Software by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock worth $41,952,000 after purchasing an additional 6,916 shares in the last quarter. Glenview Trust co increased its holdings in shares of Paycom Software by 27.1% in the 4th quarter. Glenview Trust co now owns 12,294 shares of the software maker’s stock valued at $2,520,000 after acquiring an additional 2,625 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in Paycom Software during the fourth quarter worth approximately $776,000. 87.77% of the stock is owned by hedge funds and other 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 that occurred on 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 sale, the director now directly owns 7,730 shares in the company, valued at $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 28,733 shares of the company’s stock, valued at $5,775,620.33. The trade was a 9.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,100 shares of company stock valued at $1,476,024. Corporate insiders own 12.60% of the company’s stock.

Paycom Software Trading Down 1.1 %

NYSE:PAYC opened at $218.58 on Thursday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The stock has a market cap of $12.52 billion, a P/E ratio of 24.56, a PEG ratio of 2.40 and a beta of 0.97. The stock has a 50 day simple moving average of $212.94 and a 200 day simple moving average of $204.67.

Paycom Software (NYSE:PAYC) last issued its 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 net margin of 26.66% and a return on equity of 33.53%. As a group, sell-side analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Piper Sandler lifted their price objective 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. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. TD Cowen boosted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Barclays decreased their price target on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $212.80.

Paycom Software 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.