GeoWealth Management LLC Buys 146 Shares of Paycom Software, Inc. (NYSE:PAYC)

GeoWealth Management LLC raised its stake in Paycom Software, Inc. (NYSE:PAYC) by 34.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 568 shares of the software maker’s stock after buying an additional 146 shares during the quarter. GeoWealth Management LLC’s holdings in Paycom Software were worth $116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock worth $491,201,000 after acquiring an additional 1,388,533 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Paycom Software by 1,153.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker’s stock worth $82,375,000 after purchasing an additional 369,825 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Paycom Software in the 4th quarter valued at $63,923,000. Strategic Financial Concepts LLC bought a new stake in shares of Paycom Software in the 4th quarter valued at $42,893,000. Finally, Norges Bank acquired a new stake in Paycom Software during the 4th quarter worth $21,510,000. Institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Citigroup lowered their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus cut their price target on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Piper Sandler upped their price target on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, KeyCorp upgraded shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price objective on the stock in a report on Monday, March 10th. 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, Paycom Software presently has an average rating of “Hold” and an average price target of $212.80.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $225.87 on Friday. The stock has a market capitalization of $13.07 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The stock has a 50 day moving average price of $214.55 and a 200 day moving average price of $209.49.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating 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%. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

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 dividend of $0.375 per share. The ex-dividend date was Monday, March 10th. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. Paycom Software’s dividend payout ratio is presently 16.85%.

Insider Activity

In related news, COO Randall Peck sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the transaction, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 7,730 shares of the company’s stock, valued at $1,686,840.60. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,100 shares of company stock valued at $1,476,024. 10.90% of the stock is owned by company insiders.

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.