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

Sendero Wealth Management LLC reduced its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 28.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,626 shares of the software maker's stock after selling 12,494 shares during the quarter. Paycom Software makes up 1.0% of Sendero Wealth Management LLC's investment portfolio, making the stock its 26th largest holding. Sendero Wealth Management LLC owned 0.06% of Paycom Software worth $6,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Glass Jacobson Investment Advisors llc grew its stake 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 purchasing an additional 112 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in Paycom Software in the 4th quarter valued at $30,000. MassMutual Private Wealth & Trust FSB grew its stake 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 purchasing an additional 87 shares during the period. Putney Financial Group LLC bought a new position in Paycom Software in the 4th quarter valued at $39,000. Finally, IFP Advisors Inc grew its stake in Paycom Software by 635.7% in the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock valued at $43,000 after purchasing an additional 178 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PAYC shares. JPMorgan Chase & Co. increased their price target on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Piper Sandler increased their price target on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. KeyCorp increased their price target on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Barclays increased their price target on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Finally, Stifel Nicolaus increased their price target on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $226.90.

Paycom Software Price Performance

Shares of NYSE:PAYC traded up $1.76 on Friday, hitting $265.69. The company's stock had a trading volume of 348,667 shares, compared to its average volume of 677,788. The company has a 50-day simple moving average of $235.57 and a 200 day simple moving average of $222.19. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $267.76. The company has a market capitalization of $15.37 billion, a PE ratio of 29.85, a PEG ratio of 2.40 and a beta of 0.81.

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

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.56%. Paycom Software's payout ratio is currently 21.40%.

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 3,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the transaction, the insider now directly 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Randall Peck sold 890 shares of the firm's stock in a transaction dated 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 directly owns 49,394 shares in the company, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 173,516 shares of company stock valued at $42,964,698 in the last 90 days. Corporate insiders own 10.90% of the company's stock.

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.