Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 50.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,351 shares of the software maker's stock after selling 29,208 shares during the quarter. Russell Investments Group Ltd.'s holdings in Paycom Software were worth $5,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Aviva PLC lifted its holdings in shares of Paycom Software by 22.4% during the 4th quarter. Aviva PLC now owns 17,241 shares of the software maker's stock valued at $3,534,000 after purchasing an additional 3,154 shares during the last quarter. Hel Ved Capital Management Ltd acquired a new position in Paycom Software during the 4th quarter valued at about $1,230,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Paycom Software in the fourth quarter valued at about $738,000. Resona Asset Management Co. Ltd. acquired a new stake in Paycom Software in the fourth quarter worth about $3,138,000. Finally, Wells Fargo & Company MN boosted its holdings in Paycom Software by 4.3% in the fourth quarter. Wells Fargo & Company MN now owns 235,580 shares of the software maker's stock worth $48,287,000 after acquiring an additional 9,755 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Insider Activity

In related 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 in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the sale, the insider now directly owns 28,733 shares in the company, valued at approximately $5,775,620.33. This trade 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 worth $1,476,024 in the last quarter. Corporate insiders own 10.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PAYC. Citigroup decreased their price objective on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Piper Sandler boosted their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research note on Thursday, February 13th. Barclays dropped their price target on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Finally, KeyCorp raised Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 target price for the company in a report on Monday, March 10th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $212.80.

Paycom Software Stock Up 0.6 %

Shares of NYSE PAYC traded up $1.39 during midday trading on Friday, reaching $216.92. 403,689 shares of the stock were exchanged, compared to its average volume of 718,771. The firm has a 50-day simple moving average of $214.08 and a two-hundred day simple moving average of $208.12. 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 PEG ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

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

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.