Kingsview Wealth Management LLC Sells 929 Shares of Paycom Software, Inc. (NYSE:PAYC)

Kingsview Wealth Management LLC lessened its position in Paycom Software, Inc. (NYSE:PAYC) by 40.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,364 shares of the software maker’s stock after selling 929 shares during the period. Kingsview Wealth Management LLC’s holdings in Paycom Software were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Paycom Software by 38.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,516 shares of the software maker’s stock worth $1,336,000 after acquiring an additional 1,797 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Paycom Software by 8.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 106,883 shares of the software maker’s stock worth $21,908,000 after acquiring an additional 8,327 shares during the period. Spectrum Asset Management Inc. NB CA bought a new position in Paycom Software in the 4th quarter worth $898,000. Strategic Financial Concepts LLC bought a new position in Paycom Software in the 4th quarter worth $42,893,000. Finally, Absher Wealth Management LLC bought a new position in shares of Paycom Software during the 4th quarter worth about $401,000. Institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD Cowen boosted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Stifel Nicolaus dropped their price objective on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday. Jefferies Financial Group boosted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Piper Sandler boosted their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $209.22.

Paycom Software Stock Down 1.1 %

NYSE PAYC opened at $209.72 on Friday. The stock has a market cap of $12.09 billion, a P/E ratio of 25.24, a PEG ratio of 2.81 and a beta of 1.15. The company’s 50-day simple moving average is $210.84 and its 200 day simple moving average is $191.52. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. Research analysts anticipate that Paycom Software, Inc. will post 6.88 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a $0.375 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

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.