Wealthfront Advisers LLC Acquires Shares of 14,354 Paycom Software, Inc. (NYSE:PAYC)

Wealthfront Advisers LLC bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the fourth quarter, Holdings Channel reports. The institutional investor bought 14,354 shares of the software maker’s stock, valued at approximately $2,942,000.

Several other hedge funds have also recently modified their holdings of the stock. Sylebra Capital LLC boosted its holdings in Paycom Software by 0.3% in the 3rd quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock worth $326,888,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Paycom Software by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock valued at $237,015,000 after acquiring an additional 45,404 shares in the last quarter. FMR LLC lifted its position in shares of Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after acquiring an additional 357,723 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Paycom Software by 1.0% in the third 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Paycom Software by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker’s stock worth $102,090,000 after purchasing an additional 11,611 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity at Paycom Software

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

Analysts Set New Price Targets

PAYC has been the topic of a number of research reports. Stifel Nicolaus decreased their price objective on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted 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. Piper Sandler upped their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Citigroup decreased their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, TD Cowen upped their price target on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $212.80.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $202.83 on Friday. The company has a market capitalization of $11.61 billion, a P/E ratio of 22.79, a P/E/G ratio of 2.40 and a beta of 1.14. The company has a 50 day simple moving average of $208.95 and a 200-day simple moving average of $198.97. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74.

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 return on equity of 33.53% and a net margin of 26.66%. As a group, research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Monday, March 10th. Paycom Software’s payout ratio is 16.85%.

About Paycom Software

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.