Paycom Software, Inc. (NYSE:PAYC) Holdings Decreased by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in Paycom Software, Inc. (NYSE:PAYC) by 14.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 460,980 shares of the software maker’s stock after selling 79,660 shares during the period. Federated Hermes Inc.’s holdings in Paycom Software were worth $94,485,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp bought a new position in shares of Paycom Software in the fourth quarter valued at approximately $30,000. IFP Advisors Inc boosted its stake in Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after purchasing an additional 178 shares in the last quarter. Blue Trust Inc. boosted its stake in Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock valued at $72,000 after purchasing an additional 88 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Paycom Software during the 3rd quarter valued at $79,000. Finally, Huntington National Bank raised its stake in shares of Paycom Software by 46.5% in the 4th quarter. Huntington National Bank now owns 551 shares of the software maker’s stock worth $113,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the subject of several research reports. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Barclays dropped their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup reduced their target price 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. Finally, Stifel Nicolaus dropped their price target on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $212.80.

Paycom Software Stock Down 7.1 %

PAYC opened at $198.22 on Monday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The firm has a market capitalization of $11.35 billion, a P/E ratio of 22.27, a PEG ratio of 2.40 and a beta of 0.97. The stock has a fifty day moving average of $212.92 and a 200-day moving average of $205.42.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) 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, analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Monday, March 10th. Paycom Software’s payout ratio is presently 16.85%.

Insider Buying and Selling at Paycom Software

In related news, COO Randall Peck sold 3,600 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the transaction, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the sale, the insider now owns 28,733 shares of the company’s stock, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,100 shares of company stock worth $1,476,024. 12.60% of the stock is currently owned by company insiders.

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.