Envestnet Portfolio Solutions Inc. Decreases Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Envestnet Portfolio Solutions Inc. lessened its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 25.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,336 shares of the software maker's stock after selling 1,161 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Paycom Software were worth $729,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc increased its position in Paycom Software by 746.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after purchasing an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Paycom Software during the fourth quarter worth $30,000. MassMutual Private Wealth & Trust FSB increased its position in Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after acquiring an additional 87 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Paycom Software during the first quarter valued at $35,000. Finally, Putney Financial Group LLC bought a new position in Paycom Software during the fourth quarter valued at $39,000. Institutional investors own 87.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler boosted their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Wall Street Zen cut shares of Paycom Software from a "buy" rating to a "hold" rating in a research 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. Barclays boosted their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Finally, BMO Capital Markets boosted their price objective on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $226.90.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, COO Randall Peck sold 890 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the sale, the chief operating officer now directly owns 49,394 shares of the company's stock, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 120,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the sale, the chief executive officer now directly owns 3,307,249 shares of the company's stock, valued at approximately $805,381,276.48. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,016 shares of company stock valued at $42,736,608. 10.90% of the stock is currently owned by insiders.

Paycom Software Stock Performance

Paycom Software stock traded up $1.57 during midday trading on Friday, hitting $227.03. 590,047 shares of the company's stock were exchanged, compared to its average volume of 663,158. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $267.76. The firm has a 50-day moving average of $244.08 and a two-hundred day moving average of $222.79. The company has a market cap of $13.13 billion, a PE ratio of 32.39, a P/E/G ratio of 2.50 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The company had revenue of $530.50 million for the quarter, compared to analysts' expectations of $522.92 million. During the same period in the prior year, the business earned $2.59 EPS. The firm's quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Tuesday, May 27th. Paycom Software's payout ratio 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.