Strategic Wealth Partners Ltd. Sells 3,476 Shares of Paycom Software, Inc. (NYSE:PAYC)

Strategic Wealth Partners Ltd. lowered its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 19.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,495 shares of the software maker's stock after selling 3,476 shares during the period. Strategic Wealth Partners Ltd.'s holdings in Paycom Software were worth $3,073,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Strive Asset Management LLC acquired a new position in Paycom Software during the 4th quarter worth about $340,000. Rafferty Asset Management LLC lifted its position in Paycom Software by 14.0% during the 4th quarter. Rafferty Asset Management LLC now owns 7,767 shares of the software maker's stock worth $1,592,000 after buying an additional 955 shares in the last quarter. Quantinno Capital Management LP lifted its position in Paycom Software by 14.5% during the 4th quarter. Quantinno Capital Management LP now owns 21,890 shares of the software maker's stock worth $4,487,000 after buying an additional 2,770 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in Paycom Software during the 4th quarter worth about $147,000. Finally, Nissay Asset Management Corp Japan ADV lifted its position in Paycom Software by 1.2% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,357 shares of the software maker's stock worth $1,314,000 after buying an additional 77 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Activity

In related news, COO Randall Peck sold 3,600 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the sale, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This represents a 6.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 120,000 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total value of $29,222,400.00. Following the completion of the sale, the chief executive officer now owns 3,307,249 shares in the company, valued at approximately $805,381,276.48. This trade represents a 3.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,526 shares of company stock valued at $37,450,796. 10.90% of the stock is owned by insiders.

Paycom Software Stock Performance

NYSE PAYC traded up $4.07 during trading hours on Thursday, reaching $261.32. 529,882 shares of the company's stock were exchanged, compared to its average volume of 701,466. The company's 50-day moving average is $225.72 and its two-hundred day moving average is $219.09. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $262.70. The company has a market capitalization of $15.12 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80.

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

Paycom Software Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PAYC shares. KeyCorp upped their price target on shares of Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Piper Sandler upped their price target on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Barclays upped their price target on shares of Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. boosted their price objective on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus 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.