Wedmont Private Capital Decreases Stake in Paycom Software, Inc. (NYSE:PAYC)

Wedmont Private Capital reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 21.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 935 shares of the software maker’s stock after selling 262 shares during the period. Wedmont Private Capital’s holdings in Paycom Software were worth $268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAYC. General Partner Inc. bought a new position in shares of Paycom Software during the 4th quarter valued at approximately $33,000. Ellevest Inc. boosted its holdings in Paycom Software by 89.8% in the 3rd quarter. Ellevest Inc. now owns 112 shares of the software maker’s stock worth $37,000 after buying an additional 53 shares during the period. Pinnacle Financial Partners Inc. bought a new position in Paycom Software in the 3rd quarter worth approximately $43,000. Fairfield Bush & CO. bought a new position in Paycom Software in the 1st quarter worth approximately $48,000. Finally, SeaCrest Wealth Management LLC bought a new position in Paycom Software in the 2nd quarter worth approximately $49,000. 88.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler raised their price objective on shares of Paycom Software from $395.00 to $417.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. StockNews.com assumed coverage on shares of Paycom Software in a report on Thursday. They issued a “hold” rating for the company. Barclays raised their price objective on shares of Paycom Software from $324.00 to $336.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 8th. Mizuho reiterated a “neutral” rating and issued a $350.00 target price on shares of Paycom Software in a research note on Wednesday, February 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Paycom Software from $425.00 to $400.00 and set a “buy” rating on the stock in a research note on Monday, January 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $387.00.

Insider Buying and Selling

In related news, Director Jason D. Clark sold 1,070 shares of Paycom Software stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $278.33, for a total value of $297,813.10. Following the transaction, the director now owns 4,741 shares in the company, valued at approximately $1,319,562.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 15.20% of the stock is owned by corporate insiders.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $276.94 on Friday. The stock has a market cap of $16.71 billion, a PE ratio of 57.10, a PEG ratio of 1.87 and a beta of 1.39. The company’s fifty day moving average is $305.81 and its 200 day moving average is $319.78. Paycom Software, Inc. has a 52 week low of $255.82 and a 52 week high of $402.78. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.02.

Paycom Software (NYSE:PAYC – Get Rating) last issued its earnings results on Tuesday, February 7th. The software maker reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.24. The company had revenue of $370.61 million for the quarter, compared to analysts’ expectations of $366.71 million. Paycom Software had a net margin of 20.46% and a return on equity of 25.62%. The firm’s revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. Research analysts anticipate that Paycom Software, Inc. will post 5.98 earnings per share for the current year.

About Paycom Software

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Paycom Software, Inc engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.