Venturi Wealth Management LLC Lowers Stake in Paycom Software, Inc. (NYSE:PAYC)

Venturi Wealth Management LLC cut its position in Paycom Software, Inc. (NYSE:PAYC) by 17.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,494 shares of the software maker’s stock after selling 307 shares during the period. Venturi Wealth Management LLC’s holdings in Paycom Software were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAYC. Creative Planning increased its stake in Paycom Software by 27.5% in the 3rd quarter. Creative Planning now owns 7,586 shares of the software maker’s stock worth $1,264,000 after buying an additional 1,635 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Paycom Software by 277.1% in the third quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock worth $44,000 after acquiring an additional 194 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Paycom Software by 9.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 33,944 shares of the software maker’s stock worth $5,654,000 after purchasing an additional 2,937 shares in the last quarter. Private Advisor Group LLC raised its stake in Paycom Software by 14.3% during the 3rd quarter. Private Advisor Group LLC now owns 2,398 shares of the software maker’s stock valued at $400,000 after purchasing an additional 300 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Paycom Software by 9,997.5% during the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after purchasing an additional 278,529 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Trading Down 0.9 %

Shares of NYSE PAYC opened at $214.22 on Friday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The firm’s 50-day moving average price is $208.35 and its 200-day moving average price is $193.15. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 24.07, a P/E/G ratio of 2.48 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last issued 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%. On average, equities analysts predict that Paycom Software, Inc. will post 6.9 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued 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 yield of 0.70%. Paycom Software’s payout ratio is presently 16.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup cut their price objective 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. Piper Sandler raised their target price on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Stifel Nicolaus reduced their price target on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, BMO Capital Markets lifted their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $209.22.

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.