Cetera Advisor Networks LLC Sells 484 Shares of Paycom Software, Inc. (NYSE:PAYC)

Cetera Advisor Networks LLC trimmed its position in Paycom Software, Inc. (NYSE:PAYC) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,177 shares of the software maker’s stock after selling 484 shares during the period. Cetera Advisor Networks LLC’s holdings in Paycom Software were worth $3,912,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. KB Financial Partners LLC acquired a new stake in shares of Paycom Software in the first quarter valued at about $28,000. Clear Street Markets LLC increased its position in shares of Paycom Software by 98.0% in the first quarter. Clear Street Markets LLC now owns 97 shares of the software maker’s stock valued at $29,000 after acquiring an additional 48 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Paycom Software by 5,100.0% in the second quarter. Lindbrook Capital LLC now owns 104 shares of the software maker’s stock valued at $33,000 after acquiring an additional 102 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Paycom Software in the first quarter valued at about $33,000. Finally, Activest Wealth Management acquired a new stake in shares of Paycom Software in the second quarter valued at about $40,000. Institutional investors and hedge funds own 88.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Citigroup downgraded Paycom Software from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $360.00 to $189.00 in a research report on Wednesday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Wednesday, November 1st. Deutsche Bank Aktiengesellschaft downgraded Paycom Software from a “buy” rating to a “hold” rating and lowered their price target for the stock from $400.00 to $175.00 in a research report on Wednesday, November 1st. Piper Sandler downgraded Paycom Software from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $399.00 to $185.00 in a research report on Wednesday, November 1st. Finally, TheStreet downgraded Paycom Software from a “b-” rating to a “c+” rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $273.12.

Paycom Software Trading Up 2.8 %

Shares of PAYC stock opened at $182.44 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.99 billion, a P/E ratio of 31.19, a price-to-earnings-growth ratio of 1.43 and a beta of 1.40. The stock has a 50 day simple moving average of $237.35 and a 200 day simple moving average of $281.93. Paycom Software, Inc. has a 1 year low of $146.15 and a 1 year high of $374.04.

Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, October 31st. The software maker reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.16. Paycom Software had a return on equity of 25.02% and a net margin of 20.80%. The firm had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $411.17 million. During the same period in the prior year, the company earned $0.92 earnings per share. The company’s quarterly revenue was up 21.6% on a year-over-year basis. On average, research analysts predict that Paycom Software, Inc. will post 6.03 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 27th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, November 24th. Paycom Software’s payout ratio is presently 25.64%.

Insiders Place Their Bets

In other Paycom Software news, Director J C. Watts, Jr. bought 314 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was purchased at an average cost of $159.20 per share, for a total transaction of $49,988.80. Following the completion of the purchase, the director now directly owns 6,864 shares of the company’s stock, valued at $1,092,748.80. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, Director J C. Watts, Jr. purchased 314 shares of the stock in a transaction dated Friday, November 3rd. The stock was bought at an average cost of $159.20 per share, for a total transaction of $49,988.80. Following the completion of the acquisition, the director now owns 6,864 shares of the company’s stock, valued at $1,092,748.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jason D. Clark sold 130 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $287.36, for a total transaction of $37,356.80. Following the transaction, the director now owns 4,970 shares of the company’s stock, valued at $1,428,179.20. The disclosure for this sale can be found here. Corporate insiders own 14.50% of the company’s stock.

Paycom Software 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.