Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 25.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,332 shares of the software maker's stock after selling 16,632 shares during the period. Ameriprise Financial Inc. owned about 0.09% of Paycom Software worth $10,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in PAYC. FMR LLC increased its holdings in Paycom Software by 137.8% in the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock valued at $491,201,000 after buying an additional 1,388,533 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Paycom Software by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker's stock valued at $310,245,000 after acquiring an additional 89,848 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Paycom Software by 10.9% in the 4th quarter. Northern Trust Corp now owns 724,016 shares of the software maker's stock valued at $148,402,000 after acquiring an additional 70,897 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Paycom Software by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock worth $102,090,000 after acquiring an additional 11,611 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Paycom Software by 1,153.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock worth $82,375,000 after purchasing an additional 369,825 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PAYC. Wall Street Zen cut shares of Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Stifel Nicolaus increased 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. JPMorgan Chase & Co. boosted their price target on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Piper Sandler raised their price target on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $226.90.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 26,426 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 3,277,249 shares of the company's stock, valued at $837,402,664.48. This represents a 0.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director J C. Watts, Jr. sold 500 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $218.22, for a total value of $109,110.00. Following the sale, the director now owns 7,730 shares in the company, valued at $1,686,840.60. This trade represents a 6.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,926 shares of company stock worth $36,686,912. 10.90% of the stock is owned by insiders.

Paycom Software Price Performance

PAYC traded down $3.59 during trading on Friday, reaching $257.91. 412,519 shares of the stock were exchanged, compared to its average volume of 700,583. The company has a market capitalization of $14.92 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $262.80. The business's 50 day moving average price is $227.45 and its two-hundred day moving average price is $219.57.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. The business had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.59 EPS. On average, analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.375 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.58%. Paycom Software's dividend payout ratio (DPR) is 21.40%.

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.