Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Trims Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its stake in Paycom Software, Inc. (NYSE:PAYC) by 0.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 963,303 shares of the software maker’s stock after selling 6,954 shares during the period. Paycom Software comprises 2.0% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 16th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Paycom Software were worth $211,184,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. FMR LLC boosted its holdings in Paycom Software by 137.8% during the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock worth $491,201,000 after buying an additional 1,388,533 shares in the last quarter. Sylebra Capital LLC raised its position in shares of Paycom Software by 63.8% in the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker’s stock worth $658,996,000 after acquiring an additional 1,252,617 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake 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 worth $82,375,000 after acquiring an additional 369,825 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Paycom Software during the 4th quarter valued at about $63,923,000. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Paycom Software during the 4th quarter valued at about $60,882,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

PAYC has been the subject of a number of analyst reports. Piper Sandler upped their price target on Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. KeyCorp upped their target price on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Wall Street Zen cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, BMO Capital Markets increased their price objective on shares of Paycom Software from $215.00 to $244.00 and gave the company a “market perform” rating in a report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus target price of $226.90.

Paycom Software Stock Performance

Shares of PAYC stock opened at $225.98 on Friday. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $267.76. The stock’s fifty day moving average is $243.69 and its two-hundred day moving average is $223.03. The firm has a market capitalization of $13.07 billion, a P/E ratio of 32.24, a PEG ratio of 2.45 and a beta of 0.81.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.59 earnings per share. On average, equities analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software’s dividend payout ratio (DPR) is 21.40%.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 120,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,307,249 shares of the company’s stock, valued at $805,381,276.48. This trade represents a 3.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Randall Peck sold 890 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the transaction, the chief operating officer now directly owns 49,394 shares in the company, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,016 shares of company stock worth $42,736,608 in the last ninety days. Insiders own 10.90% of the company’s stock.

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.