HighTower Advisors LLC Sells 2,381 Shares of Paycom Software, Inc. $PAYC

HighTower Advisors LLC trimmed its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 15.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,834 shares of the software maker’s stock after selling 2,381 shares during the quarter. HighTower Advisors LLC’s holdings in Paycom Software were worth $2,804,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PAYC. SouthState Corp bought a new position in shares of Paycom Software in the first quarter worth approximately $27,000. von Borstel & Associates Inc. bought a new position in shares of Paycom Software in the first quarter worth approximately $27,000. Golden State Wealth Management LLC boosted its position in shares of Paycom Software by 112.3% in the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock worth $30,000 after purchasing an additional 73 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Paycom Software by 135.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock worth $33,000 after purchasing an additional 87 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in shares of Paycom Software in the first quarter worth approximately $35,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays upped their price target on shares of Paycom Software from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. Cantor Fitzgerald assumed coverage on shares of Paycom Software in a research report on Thursday, August 14th. They issued a “neutral” rating and a $230.00 price target for the company. Stifel Nicolaus upped their target price on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Finally, Piper Sandler upped their target price on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $234.36.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $233.7390 on Friday. Paycom Software, Inc. has a fifty-two week low of $153.08 and a fifty-two week high of $267.76. The firm has a fifty day moving average price of $229.43 and a 200 day moving average price of $228.06. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of 31.63, a P/E/G ratio of 2.46 and a beta of 0.81.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating the consensus estimate of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The business had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. During the same quarter last year, the business earned $1.62 earnings per share. Paycom Software’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, research analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 25th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, August 25th. This represents a $1.50 annualized dividend and a yield of 0.6%. Paycom Software’s dividend payout ratio (DPR) is 20.30%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 23,200 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the completion of the transaction, the chief executive officer owned 3,224,049 shares in the company, valued at $855,017,794.80. This trade represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total transaction of $374,940.00. Following the transaction, the insider owned 27,233 shares of the company’s stock, valued at $6,807,160.68. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,590 shares of company stock worth $6,761,837 over the last 90 days. 10.90% of the stock is owned by insiders.

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.