Paycom Software, Inc. $PAYC Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its holdings in Paycom Software, Inc. by 15.6%, selling 2,381 shares and leaving it with a total of 12,834 shares valued at approximately $2.8 million.
• Barclays increased its price target for Paycom Software from $240.00 to $250.00, while other analysts have given the stock a consensus rating of "Hold" and a price target of $234.36.
• Paycom Software reported an earnings per share (EPS) of $2.06 for the last quarter, exceeding estimates, while also announcing a quarterly dividend of $0.375 per share.

HighTower Advisors LLC lessened its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,834 shares of the software maker's stock after selling 2,381 shares during the quarter. HighTower Advisors LLC's holdings in Paycom Software were worth $2,804,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. von Borstel & Associates Inc. acquired a new position in shares of Paycom Software in the 1st quarter valued at about $27,000. SouthState Corp acquired a new position in shares of Paycom Software in the 1st quarter valued at about $27,000. Golden State Wealth Management LLC increased its stake in shares of Paycom Software by 112.3% in the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after purchasing an additional 87 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Paycom Software in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. BMO Capital Markets lifted their price target on Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Barclays lifted their price target on Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Stifel Nicolaus lifted their price target on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler lifted their price target on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $234.36.

Insiders Place Their Bets

In other news, COO Randall Peck sold 890 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the transaction, the chief operating officer directly owned 49,394 shares in the company, valued at $13,000,994.74. The trade was a 1.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the transaction, the insider owned 27,233 shares in the company, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,590 shares of company stock worth $6,761,837. Corporate insiders own 10.90% of the company's stock.

Paycom Software Trading Down 0.9%

NYSE:PAYC traded down $2.08 during trading hours on Thursday, hitting $225.81. 524,324 shares of the stock were exchanged, compared to its average volume of 723,928. Paycom Software, Inc. has a 52-week low of $153.08 and a 52-week high of $267.76. The firm's fifty day moving average price is $228.57 and its 200 day moving average price is $228.71. The company has a market cap of $13.07 billion, a P/E ratio of 30.56, a P/E/G ratio of 2.49 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The company had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. During the same period in the previous year, the business earned $1.62 EPS. Paycom Software's quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 25th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 25th. Paycom Software's payout ratio is 20.30%.

Paycom Software Company 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.