Avantax Advisory Services Inc. cut its holdings in Paycom Software, Inc. (NYSE:PAYC – Free Report) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,621 shares of the software maker’s stock after selling 45 shares during the period. Avantax Advisory Services Inc.’s holdings in Paycom Software were worth $493,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in PAYC. Compagnie Lombard Odier SCmA acquired a new position in Paycom Software in the fourth quarter valued at approximately $26,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Paycom Software in the fourth quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in Paycom Software in the first quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV raised its position in Paycom Software by 466.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 102 shares of the software maker’s stock valued at $31,000 after purchasing an additional 84 shares during the period. Finally, Sonnipe Ltd purchased a new stake in Paycom Software in the fourth quarter valued at approximately $38,000. 74.73% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Paycom Software news, Director Jason D. Clark sold 430 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $278.99, for a total value of $119,965.70. Following the completion of the transaction, the director now directly owns 5,100 shares of the company’s stock, valued at $1,422,849. The sale was disclosed in a filing with the SEC, which is available at this link. 14.50% of the stock is currently owned by corporate insiders.
Paycom Software Trading Up 1.2 %
Paycom Software (NYSE:PAYC – Get Free Report) last posted its quarterly earnings results on Tuesday, May 2nd. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.06. The firm had revenue of $451.64 million during the quarter, compared to analysts’ expectations of $444.23 million. Paycom Software had a net margin of 20.96% and a return on equity of 26.29%. Equities research analysts expect that Paycom Software, Inc. will post 6.2 EPS for the current year.
Paycom Software Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Tuesday, May 30th were issued a dividend of $0.375 per share. The ex-dividend date was Friday, May 26th. This represents a $1.50 annualized dividend and a yield of 0.42%. Paycom Software’s dividend payout ratio is currently 28.14%.
Analysts Set New Price Targets
A number of analysts have issued reports on PAYC shares. William Blair assumed coverage on Paycom Software in a research report on Wednesday, June 28th. They issued an “outperform” rating on the stock. Piper Sandler lowered their target price on shares of Paycom Software from $417.00 to $399.00 in a research note on Wednesday, May 3rd. Barclays boosted their target price on shares of Paycom Software from $336.00 to $368.00 in a research note on Wednesday, July 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Paycom Software from $400.00 to $370.00 in a research note on Wednesday, May 3rd. Finally, KeyCorp lowered their target price on shares of Paycom Software from $432.00 to $405.00 in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $377.29.
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.
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