Paycom Software, Inc. (NYSE:PAYC) Stake Lifted by Nuveen Asset Management LLC

Nuveen Asset Management LLC raised its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,919 shares of the software maker's stock after purchasing an additional 6,415 shares during the quarter. Nuveen Asset Management LLC owned 0.22% of Paycom Software worth $25,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Private Trust Co. NA raised its position in shares of Paycom Software by 9.3% during the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock worth $118,000 after purchasing an additional 49 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Paycom Software by 1.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock worth $602,000 after purchasing an additional 51 shares during the last quarter. Benjamin Edwards Inc. raised its position in shares of Paycom Software by 1.1% during the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker's stock worth $1,128,000 after purchasing an additional 60 shares during the last quarter. Fiduciary Trust Co raised its position in shares of Paycom Software by 1.6% during the 4th quarter. Fiduciary Trust Co now owns 4,495 shares of the software maker's stock worth $921,000 after purchasing an additional 71 shares during the last quarter. Finally, Valley National Advisers Inc. raised its position in shares of Paycom Software by 0.7% during the 4th quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker's stock worth $2,192,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Insider Activity

In other Paycom Software news, Director J C. Watts, Jr. sold 500 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the transaction, the director now owns 7,730 shares in the company, valued at $1,686,840.60. The trade was a 6.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the sale, the insider now owns 28,733 shares in the company, valued at approximately $5,775,620.33. This trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 149,926 shares of company stock valued at $36,686,912 in the last ninety days. Company insiders own 10.90% of the company's stock.

Paycom Software Price Performance

PAYC stock traded down $3.59 during midday trading on Friday, hitting $257.91. The stock had a trading volume of 412,519 shares, compared to its average volume of 700,583. The firm has a market cap of $14.92 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $262.80. The company's 50-day moving average price is $227.45 and its 200 day moving average price is $219.63.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data 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 26.66% and a return on equity of 33.53%. The company had revenue of $530.50 million during the quarter, compared to analysts' expectations of $522.92 million. During the same period in the previous year, the company earned $2.59 EPS. The business's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.375 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.58%. Paycom Software's dividend payout ratio is presently 21.40%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PAYC shares. Stifel Nicolaus lifted their price objective on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Wall Street Zen downgraded Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Piper Sandler lifted their price objective on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Paycom Software presently has an average rating of "Hold" and a consensus price target of $226.90.

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.