Invesco Ltd. Sells 231,767 Shares of Paycom Software, Inc. (NYSE:PAYC)

Invesco Ltd. cut its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 16.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,174,881 shares of the software maker’s stock after selling 231,767 shares during the period. Invesco Ltd. owned about 2.04% of Paycom Software worth $240,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. HighTower Advisors LLC increased its stake in shares of Paycom Software by 4.7% in the third quarter. HighTower Advisors LLC now owns 15,031 shares of the software maker’s stock valued at $2,474,000 after buying an additional 672 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Paycom Software in the 3rd quarter valued at about $206,000. Stifel Financial Corp increased its position in Paycom Software by 18.5% in the 3rd quarter. Stifel Financial Corp now owns 41,071 shares of the software maker’s stock valued at $6,841,000 after acquiring an additional 6,421 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Paycom Software by 144.6% during the third quarter. Wellington Management Group LLP now owns 16,803 shares of the software maker’s stock worth $2,799,000 after purchasing an additional 9,933 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Paycom Software during the third quarter valued at approximately $247,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Bradley Scott Smith sold 3,000 shares of the business’s stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the transaction, the director now directly owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock worth $1,476,024 over the last three months. Corporate insiders own 14.50% of the company’s stock.

Paycom Software Stock Performance

Shares of PAYC opened at $210.31 on Friday. The stock has a 50 day simple moving average of $212.49 and a 200 day simple moving average of $206.32. 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 $12.04 billion, a PE ratio of 23.63, a P/E/G ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Equities research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software’s dividend payout ratio is 16.85%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PAYC. JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Stifel Nicolaus cut their price target on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. KeyCorp upgraded Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price objective for the company in a research report on Monday, March 10th. Piper Sandler upped their target price on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Twelve investment 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, Paycom Software presently has an average rating of “Hold” and a consensus target price of $212.80.

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.