Strategic Wealth Partners Ltd. Sells 3,476 Shares of Paycom Software, Inc. (NYSE:PAYC)

Strategic Wealth Partners Ltd. cut its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 19.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,495 shares of the software maker’s stock after selling 3,476 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Paycom Software were worth $3,073,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PAYC. Strive Asset Management LLC acquired a new position in Paycom Software during the fourth quarter worth approximately $340,000. Rafferty Asset Management LLC lifted its position in shares of Paycom Software by 14.0% in the fourth quarter. Rafferty Asset Management LLC now owns 7,767 shares of the software maker’s stock valued at $1,592,000 after buying an additional 955 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Paycom Software by 14.5% during the 4th quarter. Quantinno Capital Management LP now owns 21,890 shares of the software maker’s stock worth $4,487,000 after acquiring an additional 2,770 shares during the period. Mufg Securities Americas Inc. acquired a new position in shares of Paycom Software during the 4th quarter worth approximately $147,000. Finally, Nissay Asset Management Corp Japan ADV raised its stake in Paycom Software by 1.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,357 shares of the software maker’s stock valued at $1,314,000 after acquiring an additional 77 shares during the period. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Performance

PAYC stock opened at $260.70 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $261.64. The company has a market capitalization of $15.08 billion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The company’s 50-day simple moving average is $222.52 and its 200 day simple moving average is $218.13.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The firm had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. During the same quarter in the previous year, the firm posted $2.59 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts forecast 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, June 9th. Investors of record on Tuesday, May 27th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, May 27th. Paycom Software’s dividend payout ratio (DPR) is currently 21.40%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PAYC shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th. Stifel Nicolaus raised their target price on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Piper Sandler upped their price target on shares of Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $226.90.

Insider Buying and Selling

In related news, insider Bradley Scott Smith sold 3,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $5,775,620.33. The trade was a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chad R. Richison sold 26,426 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the sale, the chief executive officer now owns 3,277,249 shares in the company, valued at $837,402,664.48. The trade was a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,526 shares of company stock valued at $37,450,796 over the last 90 days. 10.90% of the stock is owned by corporate insiders.

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.