Commonwealth Equity Services LLC Has $4.23 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Commonwealth Equity Services LLC lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 10.9% during the 4th quarter, HoldingsChannel reports. The firm owned 20,647 shares of the software maker’s stock after selling 2,524 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Paycom Software were worth $4,232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Private Trust Co. NA boosted its holdings in shares of Paycom Software by 9.3% during the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock worth $118,000 after buying an additional 49 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Paycom Software by 1.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock valued at $602,000 after acquiring an additional 51 shares during the period. Michael S. Ryan Inc. grew its position in shares of Paycom Software by 2.5% in the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock valued at $573,000 after purchasing an additional 68 shares during the last quarter. Valley National Advisers Inc. increased its stake in shares of Paycom Software by 0.7% in the fourth quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker’s stock worth $2,192,000 after purchasing an additional 72 shares during the period. Finally, Pin Oak Investment Advisors Inc. increased its stake in shares of Paycom Software by 73.3% in the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after purchasing an additional 77 shares during the period. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of Paycom Software stock opened at $218.74 on Monday. The firm has a market cap of $12.53 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. The firm’s 50-day simple moving average is $210.52 and its 200-day simple moving average is $201.72. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month 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, beating 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%. On average, equities analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

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 $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is 16.85%.

Analysts Set New Price Targets

PAYC has been the topic of a number of research analyst reports. KeyCorp raised Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 target price on the stock in a report on Monday, March 10th. Stifel Nicolaus lowered their price objective on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Piper Sandler upped their target price 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 restated a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Finally, TD Cowen upped 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. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $212.80.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the sale, the insider now directly owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the sale, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock worth $1,476,024 over the last three months. 14.50% of the stock is currently 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.