Kingsview Wealth Management LLC Has $297,000 Position in Paycom Software, Inc. (NYSE:PAYC)

Kingsview Wealth Management LLC lifted its stake in Paycom Software, Inc. (NYSE:PAYCFree Report) by 30.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,436 shares of the software maker’s stock after acquiring an additional 338 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Paycom Software were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PAYC. Quadrant Capital Group LLC grew its position in Paycom Software by 305.9% in the fourth quarter. Quadrant Capital Group LLC now owns 276 shares of the software maker’s stock worth $57,000 after acquiring an additional 208 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Paycom Software by 44.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 3,971 shares of the software maker’s stock worth $821,000 after buying an additional 1,226 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Paycom Software by 26.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 50,315 shares of the software maker’s stock valued at $10,401,000 after buying an additional 10,555 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Paycom Software by 4.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 49,890 shares of the software maker’s stock worth $9,701,000 after buying an additional 2,192 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in shares of Paycom Software by 5.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 1,939 shares of the software maker’s stock worth $401,000 after acquiring an additional 108 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PAYC has been the subject of several analyst reports. Citigroup reduced their target price on Paycom Software from $196.00 to $193.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Mizuho dropped their target price on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. William Blair reaffirmed a “market perform” rating on shares of Paycom Software in a research report on Thursday, May 2nd. BTIG Research began coverage on Paycom Software in a research note on Tuesday, February 6th. They set a “neutral” rating for the company. Finally, Piper Sandler upped their price target on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Seventeen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Paycom Software currently has an average rating of “Hold” and an average price target of $246.31.

Read Our Latest Report on Paycom Software

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $179.78, for a total value of $350,571.00. Following the sale, the chief executive officer now owns 3,090,008 shares of the company’s stock, valued at approximately $555,521,638.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 14.50% of the company’s stock.

Paycom Software Stock Up 0.5 %

NYSE PAYC opened at $180.65 on Thursday. The stock has a market cap of $10.50 billion, a P/E ratio of 22.00, a PEG ratio of 2.82 and a beta of 1.17. Paycom Software, Inc. has a twelve month low of $146.15 and a twelve month high of $374.04. The company’s 50-day simple moving average is $188.06 and its 200 day simple moving average is $188.99.

Paycom Software (NYSE:PAYCGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, beating the consensus estimate of $1.96 by $2.29. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The company had revenue of $499.88 million for the quarter, compared to analyst estimates of $495.89 million. Research analysts anticipate that Paycom Software, Inc. will post 6.16 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $0.375 per share. The ex-dividend date is Friday, May 24th. This represents a $1.50 annualized dividend and a yield of 0.83%. Paycom Software’s dividend payout ratio is currently 18.27%.

About Paycom Software

(Free Report)

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.

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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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