Prudential Financial Inc. Trims Holdings in Paycom Software, Inc. (NYSE:PAYC)

Prudential Financial Inc. lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 13.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,858 shares of the software maker’s stock after selling 3,752 shares during the quarter. Prudential Financial Inc.’s holdings in Paycom Software were worth $5,344,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Paycom Software by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after acquiring an additional 41,187 shares during the period. Proficio Capital Partners LLC acquired a new stake in Paycom Software during the fourth quarter worth about $7,142,000. FMR LLC raised its stake in Paycom Software by 55.0% during the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares during the period. Nordea Investment Management AB boosted its holdings in Paycom Software by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock valued at $41,952,000 after purchasing an additional 6,916 shares during the last quarter. Finally, Glenview Trust co grew its stake in shares of Paycom Software by 27.1% in the 4th quarter. Glenview Trust co now owns 12,294 shares of the software maker’s stock valued at $2,520,000 after buying an additional 2,625 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Up 0.0 %

Shares of Paycom Software stock opened at $218.82 on Tuesday. The firm’s 50 day moving average is $212.49 and its two-hundred day moving average is $204.21. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The firm has a market capitalization of $12.53 billion, a P/E ratio of 24.59, a P/E/G ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping analysts’ consensus estimates 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 expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Monday, March 10th. Paycom Software’s payout ratio is currently 16.85%.

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 completion of the sale, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at $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 available at the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction that occurred on 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 transaction, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents 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 have sold 7,100 shares of company stock worth $1,476,024. Insiders own 14.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PAYC shares. Barclays cut their target price 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. Citigroup lowered their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. TD Cowen increased their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average price target of $212.80.

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.