Cerity Partners LLC Has $2.25 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Cerity Partners LLC lessened its stake in Paycom Software, Inc. (NYSE:PAYC) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,300 shares of the software maker’s stock after selling 158 shares during the quarter. Cerity Partners LLC’s holdings in Paycom Software were worth $2,250,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PAYC. Allworth Financial LP grew its holdings in Paycom Software by 12.9% during the first quarter. Allworth Financial LP now owns 464 shares of the software maker’s stock worth $105,000 after purchasing an additional 53 shares during the period. Salvus Wealth Management LLC grew its holdings in Paycom Software by 4.9% during the first quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker’s stock worth $270,000 after purchasing an additional 58 shares during the period. Benjamin Edwards Inc. grew its holdings in Paycom Software by 1.1% during the fourth quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker’s stock worth $1,128,000 after purchasing an additional 60 shares during the period. Private Trust Co. NA grew its holdings in Paycom Software by 11.0% during the first quarter. Private Trust Co. NA now owns 638 shares of the software maker’s stock worth $139,000 after purchasing an additional 63 shares during the period. Finally, Fourpath Capital Management LLC grew its holdings in Paycom Software by 1.9% during the first quarter. Fourpath Capital Management LLC now owns 3,798 shares of the software maker’s stock worth $830,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the sale, the insider directly owned 27,233 shares of the company’s stock, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 23,200 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the completion of the sale, the chief executive officer directly owned 3,224,049 shares of the company’s stock, valued at $855,017,794.80. The trade was a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,016 shares of company stock worth $42,736,608 in the last quarter. Insiders own 10.90% of the company’s stock.

Paycom Software Stock Up 2.3%

PAYC stock opened at $229.81 on Friday. The firm has a market cap of $13.29 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 2.53 and a beta of 0.77. Paycom Software, Inc. has a 12-month low of $152.46 and a 12-month high of $267.76. The company’s fifty day simple moving average is $244.39 and its 200 day simple moving average is $224.13.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The firm had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same quarter in the prior year, the business earned $2.59 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were issued a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.65%. Paycom Software’s dividend payout ratio is presently 21.40%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PAYC. KeyCorp raised their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Piper Sandler lifted their price target on shares of Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Stifel Nicolaus increased their price target on Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. BMO Capital Markets raised their price objective on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a research note on Thursday, May 8th. Finally, Barclays upped their target price on Paycom Software from $221.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus price target of $226.90.

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.