Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC cut its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent disclosure 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 institutional investors and hedge funds have also recently bought and sold shares of the stock. Private Trust Co. NA boosted its holdings in shares of Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock valued at $118,000 after acquiring an additional 49 shares during the period. Oppenheimer & Co. Inc. raised its position in Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock valued at $602,000 after purchasing an additional 51 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Paycom Software by 1.1% during the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker's stock worth $1,128,000 after purchasing an additional 60 shares during the period. Fiduciary Trust Co boosted its stake in Paycom Software by 1.6% during the 4th quarter. Fiduciary Trust Co now owns 4,495 shares of the software maker's stock worth $921,000 after purchasing an additional 71 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew 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 purchasing an additional 77 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. BMO Capital Markets raised their price objective on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research report 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 report on Thursday, May 8th. KeyCorp boosted their target price on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen cut Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Paycom Software presently has a consensus rating of "Hold" and a consensus price target of $226.90.

Paycom Software Price Performance

Shares of PAYC stock traded up $1.65 during midday trading on Wednesday, reaching $265.45. 663,227 shares of the company traded hands, compared to its average volume of 683,331. The firm's 50 day simple moving average is $232.85 and its two-hundred day simple moving average is $221.24. The firm has a market cap of $15.36 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $266.41.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data 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. The firm 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%. Paycom Software's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $2.59 EPS. As a group, research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

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

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 120,000 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the sale, the chief executive officer now directly owns 3,307,249 shares in the company, valued at $805,381,276.48. This represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Randall Peck sold 890 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 49,394 shares in the company, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 150,316 shares of company stock worth $36,812,058. 10.90% of the stock is owned by corporate insiders.

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.