Farther Finance Advisors LLC Reduces Position in Paycom Software, Inc. (NYSE:PAYC)

Farther Finance Advisors LLC lessened its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 10.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 537 shares of the software maker’s stock after selling 65 shares during the quarter. Farther Finance Advisors LLC’s holdings in Paycom Software were worth $110,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Paycom Software during the 3rd quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. lifted its position 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 during the period. First Horizon Advisors Inc. lifted its position in Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after acquiring an additional 189 shares during the period. IFP Advisors Inc lifted its position in Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after acquiring an additional 178 shares during the period. Finally, Blue Trust Inc. lifted its position in Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. KeyCorp raised Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price target for the company in a report on Monday, March 10th. Piper Sandler raised their price target on Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, February 14th. TD Cowen raised their price target on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Stifel Nicolaus reduced their price target on Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Finally, Barclays reduced their price target on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $212.80.

Paycom Software Stock Performance

Paycom Software stock opened at $218.74 on Friday. The stock has a fifty day moving average of $210.52 and a two-hundred day moving average of $201.15. The company has a market capitalization of $12.53 billion, a price-to-earnings ratio of 24.58, a PEG 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 results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

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 given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s payout ratio is 16.85%.

Insiders Place Their Bets

In other news, insider Bradley Scott Smith sold 3,000 shares of Paycom Software 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,100 shares of company stock valued at $1,476,024. Corporate 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.