Paycom Software, Inc. (NYSE:PAYC) Position Trimmed by Concorde Asset Management LLC

Concorde Asset Management LLC decreased its holdings in Paycom Software, Inc. (NYSE:PAYC) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,210 shares of the software maker’s stock after selling 64 shares during the period. Concorde Asset Management LLC’s holdings in Paycom Software were worth $453,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC increased its stake in Paycom Software by 137.8% in the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock valued at $491,201,000 after buying an additional 1,388,533 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Paycom Software by 1,153.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker’s stock valued at $82,375,000 after acquiring an additional 369,825 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Paycom Software in the fourth quarter worth $63,923,000. Strategic Financial Concepts LLC purchased a new stake in shares of Paycom Software during the fourth quarter worth $42,893,000. Finally, Norges Bank acquired a new stake in Paycom Software during the fourth quarter valued at $21,510,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PAYC. Piper Sandler upped their target price on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Stifel Nicolaus dropped their price objective on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Barclays reduced their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. KeyCorp upgraded shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price target on the stock in a research note on Monday, March 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $212.80.

Insiders Place Their Bets

In other news, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the sale, the chief operating officer now owns 50,665 shares of the company’s stock, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the transaction, the director now owns 7,730 shares of the company’s stock, valued at $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock worth $1,476,024 in the last ninety days. Insiders own 14.50% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $210.31 on Friday. The stock’s 50-day moving average is $212.49 and its 200-day moving average is $206.32. The company has a market cap of $12.04 billion, a P/E ratio of 23.63, a P/E/G ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. As a group, equities analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a $0.375 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.71%. Paycom Software’s dividend payout ratio is 16.85%.

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.