Allstate Corp Invests $319,000 in Paycom Software, Inc. (NYSE:PAYC)

Allstate Corp acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,557 shares of the software maker’s stock, valued at approximately $319,000.

Other hedge funds have also recently added to or reduced their stakes in the company. DnB Asset Management AS boosted its stake in Paycom Software by 12.5% during the 4th quarter. DnB Asset Management AS now owns 10,839 shares of the software maker’s stock worth $2,222,000 after purchasing an additional 1,208 shares during the period. Level Four Advisory Services LLC increased its holdings in shares of Paycom Software by 6.6% in the 4th quarter. Level Four Advisory Services LLC now owns 12,821 shares of the software maker’s stock valued at $2,628,000 after purchasing an additional 792 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in Paycom Software by 4.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 11,549 shares of the software maker’s stock valued at $2,367,000 after buying an additional 498 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Paycom Software by 1.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 15,127 shares of the software maker’s stock worth $3,101,000 after purchasing an additional 172 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in Paycom Software in the 4th quarter valued at about $907,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In related 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 transaction of $763,884.00. Following the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the company’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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,100 shares of company stock valued at $1,476,024. 12.60% of the stock is currently owned by company insiders.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $218.58 on Thursday. The firm has a market capitalization of $12.52 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. The company’s fifty day moving average price is $212.94 and its two-hundred day moving average price is $204.67. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software (NYSE:PAYC) last announced its 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%. Analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software’s dividend payout ratio is presently 16.85%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Mizuho boosted their target price on shares of 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 lifted their price objective on Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Barclays dropped their target price on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup lowered their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, KeyCorp raised shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price objective for the company in a report on Monday, March 10th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and an average target price of $212.80.

Paycom Software Company 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.