Cerity Partners LLC Sells 46,629 Shares of Paycom Software, Inc. (NYSE:PAYC)

Cerity Partners LLC cut its stake in Paycom Software, Inc. (NYSE:PAYC) by 80.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,505 shares of the software maker’s stock after selling 46,629 shares during the period. Cerity Partners LLC’s holdings in Paycom Software were worth $2,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PAYC. Fairfield Bush & CO. bought a new position in Paycom Software in the 2nd quarter worth approximately $27,000. KB Financial Partners LLC acquired a new stake in shares of Paycom Software in the 1st quarter valued at $28,000. Clear Street Markets LLC raised its position in shares of Paycom Software by 98.0% during the first quarter. Clear Street Markets LLC now owns 97 shares of the software maker’s stock worth $29,000 after acquiring an additional 48 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Paycom Software during the first quarter valued at $33,000. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in Paycom Software by 83.5% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after acquiring an additional 71 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Down 1.1 %

Paycom Software stock opened at $184.87 on Friday. The company has a 50 day moving average of $190.26 and a 200-day moving average of $200.86. Paycom Software, Inc. has a twelve month low of $146.15 and a twelve month high of $374.04. The stock has a market capitalization of $10.64 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 3.24 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The firm had revenue of $434.60 million during the quarter, compared to analyst estimates of $422.50 million. During the same period in the prior year, the business earned $1.38 EPS. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts anticipate that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, March 1st. Paycom Software’s dividend payout ratio is presently 25.42%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PAYC. Citigroup dropped their price objective on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Piper Sandler raised their price objective on shares of Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. UBS Group upped their target price on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Jefferies Financial Group restated a “hold” rating and issued a $195.00 price target on shares of Paycom Software in a research report on Friday, January 5th. Finally, BTIG Research began coverage on Paycom Software in a research note on Tuesday, February 6th. They set a “neutral” rating for the company. Seventeen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $257.18.

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.