Sequoia Financial Advisors LLC Acquires Shares of 1,247 Paycom Software, Inc. (NYSE:PAYC)

Sequoia Financial Advisors LLC acquired a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,247 shares of the software maker’s stock, valued at approximately $256,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC grew its holdings in Paycom Software by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 15,215 shares of the software maker’s stock valued at $3,119,000 after buying an additional 184 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Paycom Software during the 4th quarter valued at approximately $2,942,000. Citizens Financial Group Inc. RI grew 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 buying an additional 394 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in Paycom Software during the 4th quarter valued at approximately $234,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew 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 buying an additional 681 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Up 0.3 %

NYSE PAYC opened at $217.71 on Thursday. The company has a fifty day moving average of $209.87 and a two-hundred day moving average of $200.65. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 24.46, 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 released its earnings results 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%. Equities research analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 annualized dividend and a dividend yield of 0.69%. Paycom Software’s dividend payout ratio (DPR) is 16.85%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PAYC. TD Cowen raised their target price on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. Citigroup cut their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report 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 target price for the company in a report on Monday, March 10th. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $212.80.

Insider Transactions at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction dated Monday, February 24th. The stock was 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 directly owns 7,730 shares in the company, valued at $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the sale, the insider now owns 28,733 shares of the company’s stock, valued at $5,775,620.33. The trade was a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,100 shares of company stock worth $1,476,024. 14.50% of the stock is currently owned by insiders.

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.