Cresset Asset Management LLC Has $691,000 Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Cresset Asset Management LLC lowered its stake in Paycom Software, Inc. (NYSE:PAYC) by 51.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,370 shares of the software maker’s stock after selling 3,548 shares during the period. Cresset Asset Management LLC’s holdings in Paycom Software were worth $691,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PAYC. Glass Jacobson Investment Advisors llc grew its position in shares of Paycom Software by 746.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock worth $26,000 after purchasing an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Paycom Software during the 4th quarter worth approximately $30,000. IFP Advisors Inc grew its position in shares of Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after purchasing an additional 178 shares in the last quarter. Parvin Asset Management LLC acquired a new position in shares of Paycom Software during the 4th quarter worth approximately $61,000. Finally, Blue Trust Inc. grew its position in shares of Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Citigroup decreased their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Piper Sandler increased their target price on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. KeyCorp increased their price target on shares of Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, Stifel Nicolaus increased their price target on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Paycom Software currently has an average rating of “Hold” and an average target price of $226.90.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 120,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the transaction, the chief executive officer now owns 3,307,249 shares of the company’s stock, valued at approximately $805,381,276.48. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 28,733 shares of the company’s stock, valued at $5,775,620.33. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,100 shares of company stock valued at $30,698,424 in the last quarter. Insiders own 10.90% of the company’s stock.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $260.25 on Wednesday. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 2.40 and a beta of 0.80. The firm has a 50 day simple moving average of $219.78 and a 200 day simple moving average of $216.28. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $261.64.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, beating the consensus estimate of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.59 EPS. As a group, analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.58%. The ex-dividend date is Tuesday, May 27th. Paycom Software’s payout ratio is 21.40%.

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.