Avantax Advisory Services Inc. Sells 2,906 Shares of Paycom Software, Inc. (NYSE:PAYC)

Avantax Advisory Services Inc. decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 41.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,048 shares of the software maker’s stock after selling 2,906 shares during the period. Avantax Advisory Services Inc.’s holdings in Paycom Software were worth $830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sylebra Capital LLC raised its position in Paycom Software by 0.3% during the 3rd quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock valued at $326,888,000 after purchasing an additional 5,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Paycom Software by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock worth $237,015,000 after acquiring an additional 45,404 shares during the period. FMR LLC grew its holdings in shares of Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after acquiring an additional 357,723 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Paycom Software by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock worth $104,524,000 after acquiring an additional 6,488 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Paycom Software by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker’s stock worth $102,090,000 after acquiring an additional 11,611 shares during the period. Institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Piper Sandler upped their target price on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Mizuho upped their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus cut their price target on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $212.80.

Paycom Software Trading Down 0.9 %

Shares of PAYC opened at $215.51 on Friday. The business’s fifty day simple moving average is $210.19 and its two-hundred day simple moving average is $200.76. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The company has a market cap of $12.34 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) 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, research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.375 per share. The ex-dividend date is Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.70%. Paycom Software’s dividend payout ratio is 16.85%.

Insider Buying and Selling at Paycom Software

In other news, insider Bradley Scott Smith sold 3,000 shares of the 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 transaction, the insider now directly owns 28,733 shares of the company’s stock, valued at $5,775,620.33. This represents a 9.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Randall Peck sold 3,600 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,100 shares of company stock worth $1,476,024. Insiders own 14.50% of the company’s stock.

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.