Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 0.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,616,253 shares of the software maker’s stock after selling 45,451 shares during the period. Vanguard Group Inc. owned approximately 9.74% of Paycom Software worth $1,151,163,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PAYC. Brooklyn Investment Group purchased a new position in shares of Paycom Software during the third quarter worth $28,000. Pin Oak Investment Advisors Inc. lifted its stake in Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares in the last quarter. IFP Advisors Inc boosted its holdings in Paycom Software by 635.7% during the 4th 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 position in Paycom Software by 33.3% in the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock valued at $72,000 after acquiring an additional 88 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Paycom Software in the 3rd quarter valued at about $79,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insiders Place Their Bets

In other news, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the transaction, the chief operating officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the transaction, the insider now directly owns 28,733 shares in the company, valued at $5,775,620.33. The trade was a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,100 shares of company stock valued at $1,476,024. 14.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PAYC has been the subject of several recent research reports. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Piper Sandler raised 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. Stifel Nicolaus cut their price objective on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Citigroup decreased their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Mizuho upped their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $212.80.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $225.55 on Friday. The stock’s 50-day simple moving average is $212.08 and its 200-day simple moving average is $202.97. The firm has a market capitalization of $12.92 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data 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 net margin of 26.66% and a return on equity of 33.53%. On average, sell-side analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.375 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.67%. Paycom Software’s dividend payout ratio is presently 16.85%.

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.