Alliancebernstein L.P. Trims Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Alliancebernstein L.P. decreased its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,993 shares of the software maker's stock after selling 1,952 shares during the period. Alliancebernstein L.P. owned 0.10% of Paycom Software worth $12,297,000 at the end of the most recent reporting period.

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Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Paycom Software by 14.5% in the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker's stock worth $54,305,000 after purchasing an additional 41,187 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Paycom Software during the fourth quarter valued at approximately $7,142,000. Nordea Investment Management AB grew its stake in Paycom Software by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker's stock valued at $41,952,000 after acquiring an additional 6,916 shares in the last quarter. Glenview Trust co grew its stake in Paycom Software by 27.1% during the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock valued at $2,520,000 after acquiring an additional 2,625 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in Paycom Software during the fourth quarter valued at approximately $776,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Performance

Shares of PAYC opened at $218.41 on Thursday. The firm has a market cap of $12.51 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The firm has a 50 day moving average price of $212.39 and a 200-day moving average price of $206.07.

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Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share 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%. As a group, equities research analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The firm 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. The ex-dividend date was Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. Paycom Software's payout ratio is 16.85%.

Wall Street Analysts Forecast Growth

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Several equities analysts recently commented on PAYC shares. Barclays reduced their price objective on shares of 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 boosted their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research note on Thursday, February 13th. Piper Sandler boosted their price objective 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. Finally, StockNews.com lowered 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 stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $212.80.

View Our Latest Stock Analysis on PAYC

Insider Activity at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of the company'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 sale, the director now directly owns 7,730 shares in the company, valued at $1,686,840.60. This represents a 6.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Randall Peck sold 3,600 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the sale, the chief operating officer now owns 50,665 shares of the company's stock, valued at $10,750,606.35. This represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock worth $1,476,024 in the last three months. 14.50% of the stock is owned by insiders.

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.

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