Paycom Software, Inc. (NYSE:PAYC) Stock Position Reduced by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co trimmed its position in Paycom Software, Inc. (NYSE:PAYC) by 9.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 50,400 shares of the software maker’s stock after selling 5,335 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Paycom Software were worth $10,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA increased its stake 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 purchasing an additional 49 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock valued at $602,000 after buying an additional 51 shares during the period. Michael S. Ryan Inc. boosted its holdings in shares of Paycom Software by 2.5% in the 4th quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock valued at $573,000 after buying an additional 68 shares during the period. Valley National Advisers Inc. grew its position in shares of Paycom Software by 0.7% during the 4th quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker’s stock valued at $2,192,000 after buying an additional 72 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Paycom Software by 0.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 20,240 shares of the software maker’s stock worth $4,184,000 after acquiring an additional 79 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Down 4.8 %

NYSE:PAYC opened at $206.40 on Tuesday. The firm has a market capitalization of $11.94 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The firm has a 50-day moving average price of $214.05 and a 200 day moving average price of $208.97.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. On average, research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software’s dividend payout ratio is currently 16.85%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PAYC shares. Barclays cut their price target on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Piper Sandler raised their target price on Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, 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 research note on Thursday, January 16th. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $212.80.

Insiders Place Their Bets

In other news, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 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 transaction, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock valued at $1,476,024 in the last 90 days. 10.90% of the stock is currently 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.