Prosperity Wealth Management Inc. Reduces Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Prosperity Wealth Management Inc. decreased its position in Paycom Software, Inc. (NYSE:PAYC) by 48.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,130 shares of the software maker’s stock after selling 2,940 shares during the period. Prosperity Wealth Management Inc.’s holdings in Paycom Software were worth $642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wealthfront Advisers LLC bought a new stake in Paycom Software during the 4th quarter valued at $2,942,000. Citizens Financial Group Inc. RI raised its holdings in Paycom Software by 28.2% during the 4th quarter. Citizens Financial Group Inc. RI now owns 1,789 shares of the software maker’s stock valued at $367,000 after acquiring an additional 394 shares during the period. Simplicity Wealth LLC bought a new stake in Paycom Software during the 4th quarter valued at $234,000. Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings in Paycom Software by 2.7% during the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 25,628 shares of the software maker’s stock valued at $5,253,000 after acquiring an additional 681 shares during the period. Finally, Amundi increased its holdings in shares of Paycom Software by 4.9% in the fourth quarter. Amundi now owns 83,790 shares of the software maker’s stock worth $16,709,000 after purchasing an additional 3,887 shares during the period. Institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Down 4.7 %

NYSE:PAYC opened at $206.86 on Wednesday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The company has a market cap of $11.85 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. The company has a 50 day simple moving average of $208.89 and a two-hundred day simple moving average of $198.89.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.73%. The ex-dividend date is Monday, March 10th. Paycom Software’s dividend payout ratio is currently 16.85%.

Insider Buying and Selling

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

Analyst Ratings Changes

PAYC has been the subject of several research reports. Barclays cut 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 report on Thursday, January 23rd. Mizuho raised their price objective on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Piper Sandler raised their target price on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their price objective on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $212.80.

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.