Simplicity Wealth LLC Takes Position in Paycom Software, Inc. (NYSE:PAYC)

Simplicity Wealth LLC acquired a new stake in Paycom Software, Inc. (NYSE:PAYC) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,142 shares of the software maker’s stock, valued at approximately $234,000.

Other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in Paycom Software in the 3rd quarter worth $28,000. Pin Oak Investment Advisors Inc. increased its stake in shares of Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after acquiring an additional 189 shares in the last quarter. IFP Advisors Inc grew its position in Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after purchasing an additional 178 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock valued at $72,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. TD Cowen increased their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Citigroup cut their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Mizuho increased their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and a consensus price target of $212.80.

Paycom Software Stock Down 4.7 %

Shares of NYSE PAYC opened at $206.86 on Wednesday. The firm’s 50-day moving average price is $208.89 and its 200-day moving average price is $198.89. The company has a market cap of $11.85 billion, a PE ratio of 23.24, a PEG ratio of 2.40 and a beta of 1.14. 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 data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. As a group, equities research analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Insider Transactions at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were 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 in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was 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 approximately $1,686,840.60. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.50% of the company’s stock.

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.