Annis Gardner Whiting Capital Advisors LLC lowered its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 97.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 141 shares of the software maker's stock after selling 5,813 shares during the period. Annis Gardner Whiting Capital Advisors LLC's holdings in Paycom Software were worth $31,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Commerce Bank increased its stake in shares of Paycom Software by 2.2% in the 1st quarter. Commerce Bank now owns 2,351 shares of the software maker's stock valued at $514,000 after acquiring an additional 50 shares in the last quarter. Allworth Financial LP increased its stake in Paycom Software by 12.9% during the 1st quarter. Allworth Financial LP now owns 464 shares of the software maker's stock valued at $105,000 after purchasing an additional 53 shares in the last quarter. US Bancorp DE increased its stake in Paycom Software by 0.5% during the 1st quarter. US Bancorp DE now owns 10,421 shares of the software maker's stock valued at $2,277,000 after purchasing an additional 57 shares in the last quarter. Salvus Wealth Management LLC increased its stake in Paycom Software by 4.9% during the 1st quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker's stock valued at $270,000 after purchasing an additional 58 shares in the last quarter. Finally, Burns Matteson Capital Management LLC increased its stake in Paycom Software by 2.5% during the 1st quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker's stock valued at $513,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.
Insider Activity at Paycom Software
In related news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the sale, the insider directly owned 27,233 shares of the company's stock, valued at $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Chad R. Richison sold 23,200 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total value of $6,152,640.00. Following the transaction, the chief executive officer directly owned 3,224,049 shares of the company's stock, valued at $855,017,794.80. This trade represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,016 shares of company stock valued at $13,514,208 over the last three months. 10.90% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of research firms recently commented on PAYC. 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 report on Thursday, May 8th. KeyCorp upped their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday. Barclays increased their price target on shares of Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Piper Sandler raised their price objective on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Eleven equities research 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 currently has a consensus rating of "Hold" and a consensus target price of $234.80.
View Our Latest Research Report on PAYC
Paycom Software Stock Down 1.8%
Shares of NYSE:PAYC traded down $4.09 during midday trading on Friday, reaching $229.29. The company's stock had a trading volume of 672,064 shares, compared to its average volume of 608,893. Paycom Software, Inc. has a 1 year low of $152.46 and a 1 year high of $267.76. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.57 and a beta of 0.81. The business has a 50 day moving average price of $236.39 and a 200 day moving average price of $227.01.
Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.28. The company had revenue of $483.60 million for the quarter, compared to analysts' expectations of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%. The firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.
Paycom Software Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 25th. Paycom Software's payout ratio is currently 21.40%.
About Paycom Software
(
Free Report)
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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