Wealth Enhancement Advisory Services LLC Decreases Stake in Paycom Software, Inc. (NYSE:PAYC)

Wealth Enhancement Advisory Services LLC trimmed its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,429 shares of the software maker's stock after selling 1,327 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Paycom Software were worth $4,802,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in Paycom Software in the fourth quarter valued at $7,142,000. Glenview Trust co lifted its holdings in Paycom Software by 27.1% in the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock valued at $2,520,000 after acquiring an additional 2,625 shares during the period. American Century Companies Inc. lifted its holdings in Paycom Software by 43.0% in 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 during the period. Asset Management One Co. Ltd. lifted its holdings in Paycom Software by 0.4% in 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 during the period. Finally, Focus Financial Network Inc. acquired a new stake in Paycom Software in the fourth quarter valued at $245,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

PAYC stock traded up $1.76 during trading on Friday, hitting $265.69. The stock had a trading volume of 348,667 shares, compared to its average volume of 678,247. The company's 50 day moving average price is $234.68 and its two-hundred day moving average price is $221.85. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $267.76. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its 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 net margin of 26.66% and a return on equity of 33.53%. The firm had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. During the same quarter in the previous year, the company posted $2.59 EPS. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast 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. This represents a $1.50 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is 21.40%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction dated Wednesday, June 4th. The stock was 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 now owns 49,394 shares in the company, valued at $13,000,994.74. The trade was a 1.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the sale, the insider now owns 28,733 shares of the company's stock, valued at $5,775,620.33. This trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 150,316 shares of company stock worth $36,812,058 in the last 90 days. 10.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Stifel Nicolaus lifted 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. Piper Sandler lifted 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. Wall Street Zen downgraded Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lifted 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. Finally, BMO Capital Markets lifted their price target on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $226.90.

Paycom Software Company 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.