Clearstead Trust LLC Sells 195 Shares of Paycom Software, Inc. (NYSE:PAYC)

Clearstead Trust LLC lowered its stake in Paycom Software, Inc. (NYSE:PAYC) by 40.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 291 shares of the software maker’s stock after selling 195 shares during the quarter. Clearstead Trust LLC’s holdings in Paycom Software were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after acquiring an additional 5,574 shares in the last quarter. KBC Group NV raised its stake in Paycom Software by 219.9% in the third quarter. KBC Group NV now owns 18,733 shares of the software maker’s stock valued at $3,120,000 after purchasing an additional 12,877 shares in the last quarter. Intellectus Partners LLC bought a new stake in Paycom Software during the third quarter valued at approximately $391,000. CIBC Asset Management Inc grew its stake in Paycom Software by 9.2% in the 3rd quarter. CIBC Asset Management Inc now owns 7,378 shares of the software maker’s stock worth $1,229,000 after buying an additional 621 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Paycom Software by 20.6% in the 3rd quarter. Empowered Funds LLC now owns 2,522 shares of the software maker’s stock worth $420,000 after buying an additional 430 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Trading Up 2.6 %

Shares of NYSE:PAYC opened at $208.08 on Friday. The company has a 50-day moving average price of $209.04 and a 200-day moving average price of $199.53. The company has a market cap of $11.92 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74.

Paycom Software (NYSE:PAYC) last released 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 return on equity of 33.53% and a net margin of 26.66%. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a $0.375 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.72%. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PAYC shares. Piper Sandler lifted their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Barclays dropped their price target on 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. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, TD Cowen increased their price target 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. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $212.80.

Insider Transactions at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the company’s 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 transaction, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This 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 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 approximately $1,686,840.60. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 14.50% of the company’s stock.

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.