Wells Fargo & Company MN Has $11.19 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Wells Fargo & Company MN cut its stake in shares of Paycom Software, Inc. (NYSE:PAYCFree Report) by 29.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,114 shares of the software maker’s stock after selling 23,113 shares during the period. Wells Fargo & Company MN owned 0.09% of Paycom Software worth $11,186,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its position in shares of Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Paycom Software by 83.5% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after buying an additional 71 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Paycom Software in the fourth quarter valued at approximately $49,000. Headlands Technologies LLC acquired a new stake in shares of Paycom Software in the third quarter valued at approximately $52,000. Finally, Operose Advisors LLC acquired a new stake in shares of Paycom Software in the third quarter valued at approximately $55,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Performance

Shares of PAYC stock opened at $145.53 on Tuesday. The stock’s fifty day moving average price is $183.39 and its two-hundred day moving average price is $188.64. The company has a market cap of $8.46 billion, a PE ratio of 17.73, a P/E/G ratio of 2.24 and a beta of 1.17. Paycom Software, Inc. has a fifty-two week low of $143.88 and a fifty-two week high of $374.04.

Paycom Software (NYSE:PAYCGet Free Report) last issued its earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. The firm had revenue of $499.88 million for the quarter, compared to the consensus estimate of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. On average, equities analysts predict that Paycom Software, Inc. will post 6.26 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, May 24th. Paycom Software’s dividend payout ratio is presently 18.27%.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the sale, the chief executive officer now owns 3,090,008 shares of the company’s stock, valued at approximately $555,521,638.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 9,750 shares of company stock valued at $1,688,583 in the last 90 days. 12.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PAYC shares. Citigroup lowered their target price on Paycom Software from $196.00 to $193.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. BTIG Research started coverage on Paycom Software in a research note on Tuesday, February 6th. They set a “neutral” rating on the stock. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. Finally, Barclays lowered their target price on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Sixteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $246.31.

View Our Latest Analysis on PAYC

About Paycom Software

(Free Report)

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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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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