Stratos Wealth Partners LTD. Decreases Position in Paycom Software, Inc. (NYSE:PAYC)

Stratos Wealth Partners LTD. cut its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 33.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,443 shares of the software maker's stock after selling 1,768 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Paycom Software were worth $752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PAYC. FMR LLC boosted its holdings in Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock valued at $491,201,000 after acquiring an additional 1,388,533 shares during the period. Sylebra Capital LLC boosted its holdings in Paycom Software by 63.8% during the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock valued at $658,996,000 after acquiring an additional 1,252,617 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Paycom Software by 1,153.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock valued at $82,375,000 after acquiring an additional 369,825 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Paycom Software during the 4th quarter valued at about $60,882,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Paycom Software during the 4th quarter valued at about $57,068,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Up 0.7%

PAYC traded up $1.53 during trading on Thursday, hitting $224.77. 429,235 shares of the stock were exchanged, compared to its average volume of 653,535. The firm has a market capitalization of $13.00 billion, a P/E ratio of 32.06, a PEG ratio of 2.46 and a beta of 0.77. Paycom Software, Inc. has a 1-year low of $152.45 and a 1-year high of $267.76. The stock has a fifty day moving average price of $245.35 and a two-hundred day moving average price of $223.81.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. The company had revenue of $530.50 million for the quarter, compared to analyst estimates 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 company posted $2.59 earnings per share. Analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's payout ratio is currently 21.40%.

Insider Activity

In other news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the transaction, the insider owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the sale, the chief operating officer owned 49,394 shares in the company, valued at approximately $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,016 shares of company stock valued at $42,736,608. Company insiders own 10.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PAYC shares. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. 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. 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. 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. Finally, 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. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software presently has an average rating of "Hold" and an average price target of $226.90.

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.