Sequoia Financial Advisors LLC Invests $256,000 in Paycom Software, Inc. (NYSE:PAYC)

Sequoia Financial Advisors LLC bought a new position in Paycom Software, Inc. (NYSE:PAYC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,247 shares of the software maker’s stock, valued at approximately $256,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after buying an additional 41,187 shares during the period. FMR LLC grew its position in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after buying an additional 357,723 shares during the period. Nordea Investment Management AB grew its position in Paycom Software by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock valued at $41,952,000 after purchasing an additional 6,916 shares during the last quarter. Friedenthal Financial purchased a new stake in Paycom Software during the 4th quarter valued at about $776,000. Finally, Nisa Investment Advisors LLC grew its position in Paycom Software by 175.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,351 shares of the software maker’s stock valued at $1,507,000 after purchasing an additional 4,685 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the sale, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the sale, the director now owns 7,730 shares in the company, valued at approximately $1,686,840.60. The trade was a 6.08 % 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. Company insiders own 14.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PAYC shares. Mizuho increased their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Piper Sandler increased their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. TD Cowen increased their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Barclays cut their price objective on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, Citigroup cut their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $212.80.

Paycom Software Stock Up 0.3 %

Shares of NYSE:PAYC opened at $217.71 on Thursday. The firm’s 50 day moving average price is $209.87 and its 200-day moving average price is $200.65. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The stock has a market capitalization of $12.47 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14.

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

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Monday, March 10th. 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.