Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 963,303 shares of the software maker's stock after selling 6,954 shares during the quarter. Paycom Software accounts for approximately 2.0% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's investment portfolio, making the stock its 16th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 1.67% of Paycom Software worth $211,184,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc boosted its stake in Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after buying an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Paycom Software during the 4th quarter worth $30,000. Golden State Wealth Management LLC increased its stake in shares of Paycom Software by 112.3% during the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after buying an additional 73 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings 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 stake in shares of Paycom Software during the 1st quarter worth $35,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 transaction, the chief executive officer now directly owns 3,307,249 shares in the company, valued at $805,381,276.48. This represents a 3.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total transaction of $374,940.00. Following the completion of the sale, the insider now owns 27,233 shares of the company's stock, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,016 shares of company stock worth $42,736,608. 10.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on PAYC. KeyCorp increased their price objective on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Stifel Nicolaus lifted their price target 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. Barclays raised their price objective on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. BMO Capital Markets lifted their target price on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Finally, Wall Street Zen lowered shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Paycom Software currently has an average rating of "Hold" and a consensus target price of $226.90.

Paycom Software Trading Up 1.9%

Shares of NYSE:PAYC traded up $4.34 during midday trading on Monday, hitting $231.57. 373,263 shares of the stock were exchanged, compared to its average volume of 630,390. The stock has a market cap of $13.40 billion, a P/E ratio of 33.03, a PEG ratio of 2.50 and a beta of 0.81. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $267.76. The company has a 50 day moving average price of $244.08 and a 200-day moving average price of $222.79.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $522.92 million. During the same quarter in the prior year, the firm earned $2.59 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research 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 disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Tuesday, May 27th. Paycom Software's payout ratio is 21.40%.

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.