Sendero Wealth Management LLC Sells 12,494 Shares of Paycom Software, Inc. (NYSE:PAYC)

Sendero Wealth Management LLC cut its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 28.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,626 shares of the software maker's stock after selling 12,494 shares during the period. Paycom Software comprises 1.0% of Sendero Wealth Management LLC's portfolio, making the stock its 26th largest holding. Sendero Wealth Management LLC owned approximately 0.06% of Paycom Software worth $6,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in Paycom Software in the 4th quarter worth approximately $7,142,000. Glenview Trust co boosted its position in shares of Paycom Software by 27.1% during the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock worth $2,520,000 after acquiring an additional 2,625 shares during the last quarter. American Century Companies Inc. grew its stake in Paycom Software by 43.0% during the fourth quarter. American Century Companies Inc. now owns 52,755 shares of the software maker's stock valued at $10,813,000 after acquiring an additional 15,852 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Paycom Software by 0.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 20,240 shares of the software maker's stock valued at $4,184,000 after acquiring an additional 79 shares in the last quarter. Finally, Focus Financial Network Inc. bought a new stake in Paycom Software in the 4th quarter valued at $245,000. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Trading Down 0.4%

Shares of NYSE PAYC traded down $1.16 during trading hours on Thursday, hitting $263.64. 523,885 shares of the company traded hands, compared to its average volume of 681,648. The company's 50 day moving average price is $233.78 and its 200 day moving average price is $221.54. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $267.59. The stock has a market capitalization of $15.25 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million for the quarter, compared to analysts' expectations of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The business's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.59 earnings per share. Equities analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.57%. The ex-dividend date is Tuesday, May 27th. Paycom Software's payout ratio is currently 21.40%.

Analysts Set New Price Targets

Several research analysts have commented on PAYC shares. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. BMO Capital Markets increased their price target on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research note on Thursday, May 8th. Piper Sandler raised their price target on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Barclays upped 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. Finally, Stifel Nicolaus increased their target price on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Paycom Software presently has an average rating of "Hold" and an average price target of $226.90.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 26,426 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $255.52, for a total value of $6,752,371.52. Following the sale, the chief executive officer now owns 3,277,249 shares in the company, valued at $837,402,664.48. This trade represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 150,316 shares of company stock worth $36,812,058 over the last 90 days. Company insiders own 10.90% of the company's stock.

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.