Legal & General Group Plc Sells 79,589 Shares of Paycom Software, Inc. (NYSE:PAYC)

Legal & General Group Plc lowered its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 35.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,866 shares of the software maker's stock after selling 79,589 shares during the period. Legal & General Group Plc owned 0.26% of Paycom Software worth $30,308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. HighTower Advisors LLC raised its holdings in Paycom Software by 4.7% in the 3rd quarter. HighTower Advisors LLC now owns 15,031 shares of the software maker's stock valued at $2,474,000 after buying an additional 672 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Paycom Software in the 3rd quarter valued at approximately $206,000. Stifel Financial Corp raised its stake in shares of Paycom Software by 18.5% during the third quarter. Stifel Financial Corp now owns 41,071 shares of the software maker's stock valued at $6,841,000 after acquiring an additional 6,421 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Paycom Software by 144.6% during the third quarter. Wellington Management Group LLP now owns 16,803 shares of the software maker's stock worth $2,799,000 after purchasing an additional 9,933 shares during the period. Finally, EP Wealth Advisors LLC acquired a new position in shares of Paycom Software during the third quarter worth $247,000. Institutional investors own 87.77% of the company's stock.

Insider Transactions at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares of the company's stock, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock valued at $1,476,024 over the last ninety days. 10.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PAYC has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. StockNews.com downgraded Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Barclays reduced their target price on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Stifel Nicolaus lowered their price target on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a report on Thursday, February 13th. Finally, Piper Sandler upped their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Paycom Software has a consensus rating of "Hold" and a consensus price target of $212.80.

Paycom Software Stock Up 0.6 %

NYSE:PAYC traded up $1.39 during trading hours on Friday, reaching $216.92. The company had a trading volume of 403,689 shares, compared to its average volume of 718,354. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The firm has a market cap of $12.55 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 2.40 and a beta of 0.97. The business's 50-day simple moving average is $213.80 and its two-hundred day simple moving average is $207.77.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. As a group, equities analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.50 annualized dividend and a dividend yield of 0.69%. Paycom Software's dividend payout ratio is 16.85%.

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.