Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,682 shares of the software maker's stock after selling 10,605 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.57% of Paycom Software worth $72,029,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PAYC. Glass Jacobson Investment Advisors llc grew its position in Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after acquiring an additional 112 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in Paycom Software in the 1st quarter valued at about $27,000. Murphy & Mullick Capital Management Corp acquired a new position in Paycom Software in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC grew its position in 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 acquiring an additional 73 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in 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 acquiring an additional 87 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Down 4.0%

PAYC stock opened at $220.15 on Friday. The business has a 50 day moving average price of $245.69 and a 200 day moving average price of $223.53. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 2.53 and a beta of 0.77. Paycom Software, Inc. has a fifty-two week low of $144.60 and a fifty-two week high of $267.76.

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

Paycom Software Announces Dividend

The firm also recently announced 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 yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's payout ratio is 21.40%.

Insider Buying and Selling

In related 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 completion of the sale, the chief operating officer owned 49,394 shares in the company, valued at $13,000,994.74. The trade was a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $374,940.00. Following the completion of the sale, the insider owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 172,016 shares of company stock worth $42,736,608 over the last 90 days. 10.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several recent research reports. Barclays lifted their price objective on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Stifel Nicolaus lifted their price objective on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Piper Sandler lifted their price objective on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Finally, KeyCorp lifted their price objective on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $226.90.

About Paycom Software

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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