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

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 1.67% of Paycom Software worth $211,184,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Glass Jacobson Investment Advisors llc grew its stake 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 in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Paycom Software in the 4th quarter worth $30,000. Golden State Wealth Management LLC grew its position in shares of Paycom Software by 112.3% during the 1st 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 in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of 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 buying an additional 87 shares during the period. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Paycom Software in the first quarter valued at about $35,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PAYC shares. BMO Capital Markets increased their target price on shares of Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Barclays upped their price target on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Wall Street Zen lowered shares of Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. KeyCorp upped their target price on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $226.90.

Insider Transactions at Paycom Software

In related news, COO Randall Peck sold 890 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the transaction, the chief operating officer now owns 49,394 shares in the company, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chad R. Richison sold 120,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was 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 of the company's stock, valued at $805,381,276.48. This represents 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 worth $42,736,608. Company insiders own 10.90% of the company's stock.

Paycom Software Trading Up 1.4%

Shares of PAYC opened at $225.98 on Friday. The firm has a market cap of $13.07 billion, a PE ratio of 32.24, a P/E/G ratio of 2.45 and a beta of 0.81. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $267.76. The stock has a fifty day moving average price of $243.69 and a 200-day moving average price of $223.03.

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

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were issued a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.66%. Paycom Software's dividend payout ratio is currently 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.

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