Simplicity Wealth LLC Takes $234,000 Position in Paycom Software, Inc. (NYSE:PAYC)

Simplicity Wealth LLC bought a new stake in Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,142 shares of the software maker’s stock, valued at approximately $234,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PAYC. FMR LLC increased its holdings in Paycom Software by 55.0% during the third 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 last quarter. Raymond James Financial Inc. purchased a new stake in Paycom Software during the fourth quarter worth about $63,923,000. Strategic Financial Concepts LLC purchased a new stake in Paycom Software during the fourth quarter worth about $42,893,000. Charles Schwab Investment Management Inc. increased its holdings in Paycom Software by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock worth $81,030,000 after buying an additional 151,807 shares during the last quarter. Finally, Aureus Asset Management LLC increased its holdings in Paycom Software by 417.8% during the third quarter. Aureus Asset Management LLC now owns 133,214 shares of the software maker’s stock worth $22,189,000 after buying an additional 107,487 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insiders Place Their Bets

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the business’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 value of $763,884.00. Following the completion of the transaction, the chief operating officer now owns 50,665 shares of the company’s stock, valued at $10,750,606.35. The trade was a 6.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the business’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 completion of the transaction, the director now directly owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 14.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PAYC shares. TD Cowen raised 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. Citigroup decreased their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays reduced their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Mizuho lifted their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Paycom Software has an average rating of “Hold” and an average target price of $212.80.

Paycom Software Trading Down 4.7 %

PAYC stock opened at $206.86 on Wednesday. The firm has a 50 day moving average of $208.89 and a 200-day moving average of $198.89. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The firm has a market capitalization of $11.85 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last released 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 net margin of 26.66% and a return on equity of 33.53%. Sell-side analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid 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 0.73%. Paycom Software’s dividend payout ratio is presently 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.