EverSource Wealth Advisors LLC Raises Position in Paycom Software, Inc. (NYSE:PAYC)

EverSource Wealth Advisors LLC lifted its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 118.1% during the fourth quarter, Holdings Channel reports. The fund owned 698 shares of the software maker’s stock after acquiring an additional 378 shares during the period. EverSource Wealth Advisors LLC’s holdings in Paycom Software were worth $143,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its position in Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after purchasing an additional 5,574 shares in the last quarter. KBC Group NV increased its stake in shares of Paycom Software by 219.9% during the third quarter. KBC Group NV now owns 18,733 shares of the software maker’s stock worth $3,120,000 after buying an additional 12,877 shares during the period. CIBC Asset Management Inc increased its stake in shares of Paycom Software by 9.2% during the third quarter. CIBC Asset Management Inc now owns 7,378 shares of the software maker’s stock worth $1,229,000 after buying an additional 621 shares during the period. Empowered Funds LLC raised its holdings in Paycom Software by 20.6% in the third quarter. Empowered Funds LLC now owns 2,522 shares of the software maker’s stock valued at $420,000 after acquiring an additional 430 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in Paycom Software by 23.8% in the third quarter. Natixis Advisors LLC now owns 70,940 shares of the software maker’s stock worth $11,816,000 after acquiring an additional 13,640 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. KeyCorp raised Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 target price on the stock in a report on Monday, March 10th. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Barclays decreased 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. Mizuho upped their price target on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $212.80.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $215.86 on Tuesday. The stock has a fifty day moving average price of $209.21 and a 200 day moving average price of $200.15. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The company has a market cap of $12.36 billion, a PE ratio of 24.25, a P/E/G ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data 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 net margin of 26.66% and a return on equity of 33.53%. Analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s dividend payout ratio is presently 16.85%.

Insiders Place Their Bets

In related news, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the sale, the chief operating officer now owns 50,665 shares in the company, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,100 shares of company stock worth $1,476,024. Company insiders own 14.50% of the company’s stock.

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.