Modera Wealth Management LLC Acquires Shares of 3,387 Paycom Software, Inc. (NYSE:PAYC)

Modera Wealth Management LLC acquired a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) during the fourth quarter, Holdings Channel.com reports. The firm acquired 3,387 shares of the software maker’s stock, valued at approximately $694,000.

A number of other hedge funds have also bought and sold shares of the company. Private Trust Co. NA increased its position in Paycom Software by 9.3% during the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock valued at $118,000 after acquiring an additional 49 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Paycom Software by 1.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock worth $602,000 after purchasing an additional 51 shares during the last quarter. Wrapmanager Inc. grew its holdings in shares of Paycom Software by 2.6% in the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after purchasing an additional 56 shares during the last quarter. Michael S. Ryan Inc. grew its holdings in shares of Paycom Software by 2.5% in the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock worth $573,000 after purchasing an additional 68 shares during the last quarter. Finally, Valley National Advisers Inc. grew its holdings in shares of Paycom Software by 0.7% in the fourth quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker’s stock worth $2,192,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the topic of a number of research analyst reports. TD Cowen upped their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler upped their price target on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. JPMorgan Chase & Co. upped their price target on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Mizuho upped their price target on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Twelve investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $209.22.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares of the company’s stock, 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 can be accessed through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the sale, the director now directly owns 7,730 shares of the company’s stock, valued at approximately $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. Insiders own 14.50% of the company’s stock.

Paycom Software Price Performance

NYSE:PAYC opened at $217.32 on Wednesday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The company has a 50-day moving average of $208.43 and a 200 day moving average of $197.09. The firm has a market cap of $12.44 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last released 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%. Sell-side analysts anticipate 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 will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Monday, March 10th. Paycom Software’s payout ratio is 16.85%.

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.