Sendero Wealth Management LLC Sells 8,622 Shares of Paycom Software, Inc. $PAYC

Sendero Wealth Management LLC lowered its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 27.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,004 shares of the software maker's stock after selling 8,622 shares during the period. Sendero Wealth Management LLC's holdings in Paycom Software were worth $5,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Baillie Gifford & Co. boosted its holdings in Paycom Software by 1,918.4% during the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker's stock valued at $346,180,000 after acquiring an additional 1,505,990 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Paycom Software in the first quarter worth $114,440,000. Nuveen LLC bought a new stake in shares of Paycom Software during the first quarter worth $26,177,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Paycom Software by 322.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 122,394 shares of the software maker's stock valued at $28,322,000 after purchasing an additional 93,440 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Paycom Software by 30.7% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 363,949 shares of the software maker's stock worth $79,516,000 after purchasing an additional 85,526 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Up 0.4%

Shares of NYSE:PAYC opened at $202.17 on Monday. The firm has a 50 day moving average of $222.11 and a 200 day moving average of $229.73. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.82. Paycom Software, Inc. has a 52 week low of $159.82 and a 52 week high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.28. The business had revenue of $483.60 million for the quarter, compared to the consensus estimate of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The business's revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $1.62 EPS. On average, sell-side analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, August 25th. Paycom Software's dividend payout ratio (DPR) is currently 20.30%.

Insider Buying and Selling at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the transaction, the insider owned 24,533 shares of the company's stock, valued at $5,477,482.91. The trade was a 5.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group decreased their price objective on shares of Paycom Software from $310.00 to $285.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. JPMorgan Chase & Co. lifted their price target on shares of Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Paycom Software in a report on Saturday, September 27th. Guggenheim started coverage on Paycom Software in a report on Friday, September 26th. They set a "buy" rating and a $270.00 price objective on the stock. Finally, TD Cowen raised Paycom Software from a "hold" rating to a "buy" rating and lifted their target price for the company from $246.00 to $258.00 in a research report on Monday, September 22nd. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $241.77.

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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