JPMorgan Chase & Co. Has $60.39 Million Holdings in Paycom Software, Inc. (NYSE:PAYC)

JPMorgan Chase & Co. decreased its position in Paycom Software, Inc. (NYSE:PAYC) by 9.6% in the fourth quarter, HoldingsChannel reports. The firm owned 294,650 shares of the software maker’s stock after selling 31,368 shares during the period. JPMorgan Chase & Co.’s holdings in Paycom Software were worth $60,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Paycom Software in the fourth quarter valued at $7,142,000. Nordea Investment Management AB lifted its stake in Paycom Software by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock worth $41,952,000 after acquiring an additional 6,916 shares in the last quarter. Glenview Trust co boosted its position in Paycom Software by 27.1% during the 4th quarter. Glenview Trust co now owns 12,294 shares of the software maker’s stock worth $2,520,000 after acquiring an additional 2,625 shares during the period. Friedenthal Financial purchased a new position in Paycom Software during the 4th quarter valued at about $776,000. Finally, Nisa Investment Advisors LLC grew its stake 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 acquiring an additional 4,685 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PAYC shares. JPMorgan Chase & Co. increased their price target on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. TD Cowen increased their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. KeyCorp raised shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 target price for the company in a research note on Monday, March 10th. Barclays dropped their price target on shares of 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, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software presently has an average rating of “Hold” and a consensus target price of $212.80.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value 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. The trade was a 9.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Randall Peck sold 3,600 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at $10,750,606.35. This represents 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 sold 7,100 shares of company stock valued at $1,476,024. Company insiders own 12.60% of the company’s stock.

Paycom Software Price Performance

NYSE PAYC opened at $198.22 on Friday. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The stock’s 50-day moving average is $212.92 and its two-hundred day moving average is $204.93. The firm has a market cap of $11.35 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data 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 return on equity of 33.53% and a net margin of 26.66%. On average, equities analysts expect that Paycom Software, Inc. will post 7.15 EPS 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 paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software’s payout ratio is 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.