Uniting Wealth Partners LLC Buys New Position in Paycom Software, Inc. (NYSE:PAYC)

Uniting Wealth Partners LLC purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 4th quarter, HoldingsChannel reports. The firm purchased 2,000 shares of the software maker’s stock, valued at approximately $410,000.

Several other institutional investors have also added to or reduced their stakes in PAYC. Private Trust Co. NA increased its stake in shares of Paycom Software by 9.3% in the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock worth $118,000 after acquiring an additional 49 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock worth $602,000 after purchasing an additional 51 shares during the period. Michael S. Ryan Inc. boosted its position in Paycom Software by 2.5% in the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock worth $573,000 after purchasing an additional 68 shares during the last quarter. Valley National Advisers Inc. lifted its stake in shares of Paycom Software by 0.7% in the 4th quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker’s stock worth $2,192,000 after purchasing an additional 72 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in Paycom Software by 0.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 20,240 shares of the software maker’s stock valued at $4,184,000 after buying an additional 79 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PAYC shares. JPMorgan Chase & Co. increased their target price on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Piper Sandler increased their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. TD Cowen lifted their target price on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. Finally, Mizuho raised their price target on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $212.80.

Paycom Software Trading Down 1.1 %

Shares of NYSE:PAYC opened at $218.58 on Thursday. The firm has a 50 day simple moving average of $212.94 and a 200-day simple moving average of $204.67. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The company has a market capitalization of $12.52 billion, a PE ratio of 24.56, a P/E/G ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping 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, equities research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. Paycom Software’s payout ratio is 16.85%.

Insider Buying and Selling at Paycom Software

In other news, 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 transaction of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares in the company, valued at $10,750,606.35. This represents a 6.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now owns 7,730 shares in the company, valued at $1,686,840.60. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,100 shares of company stock worth $1,476,024. 12.60% of the stock is owned by corporate insiders.

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.