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

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 25.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 modified their holdings of the company. Glass Jacobson Investment Advisors llc increased its stake in shares of Paycom Software by 746.7% during the 4th 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 stake in shares of Paycom Software during the 4th quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Paycom Software by 135.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after purchasing an additional 87 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in Paycom Software in the 1st quarter valued at approximately $35,000. Finally, Putney Financial Group LLC purchased a new position in Paycom Software in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PAYC. Barclays lifted 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 note on Thursday, May 8th. Stifel Nicolaus lifted their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Piper Sandler lifted their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. KeyCorp lifted their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets lifted 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 note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $226.90.

Paycom Software Price Performance

PAYC opened at $222.74 on Thursday. The company has a fifty day moving average price of $243.56 and a 200-day moving average price of $223.04. The firm has a market capitalization of $12.89 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 2.59 and a beta of 0.81. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $522.92 million. During the same period in the previous year, the firm posted $2.59 EPS. The firm's revenue was up 6.1% compared to the same quarter last year. On average, analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio is presently 21.40%.

Insiders Place Their Bets

In other news, COO Randall Peck sold 890 shares of the company's 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Chad R. Richison sold 26,426 shares of the company's stock in a transaction dated Monday, May 12th. The shares were 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 directly owns 3,277,249 shares of the company's stock, valued at approximately $837,402,664.48. This trade represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,016 shares of company stock valued at $42,736,608 over the last three months. Insiders own 10.90% 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.

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