Atria Wealth Solutions Inc. Sells 18,876 Shares of Paycom Software, Inc. (NYSE:PAYC)

Atria Wealth Solutions Inc. trimmed its holdings in Paycom Software, Inc. (NYSE:PAYC) by 45.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,505 shares of the software maker’s stock after selling 18,876 shares during the period. Atria Wealth Solutions Inc.’s holdings in Paycom Software were worth $4,652,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PAYC. CWM LLC lifted its position in shares of Paycom Software by 34.5% during the third quarter. CWM LLC now owns 1,048 shares of the software maker’s stock valued at $272,000 after purchasing an additional 269 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of Paycom Software by 12.7% during the third quarter. AE Wealth Management LLC now owns 1,704 shares of the software maker’s stock valued at $442,000 after purchasing an additional 192 shares in the last quarter. Czech National Bank lifted its position in shares of Paycom Software by 49.6% during the third quarter. Czech National Bank now owns 8,609 shares of the software maker’s stock valued at $2,232,000 after purchasing an additional 2,855 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of Paycom Software by 16.9% during the third quarter. Linden Thomas Advisory Services LLC now owns 7,293 shares of the software maker’s stock valued at $1,891,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Copeland Capital Management LLC bought a new position in shares of Paycom Software during the third quarter valued at about $811,000. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PAYC shares. Citigroup dropped their price target on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Piper Sandler raised their price target on shares of Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Jefferies Financial Group restated a “hold” rating and set a $195.00 price objective on shares of Paycom Software in a report on Friday, January 5th. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, UBS Group raised their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Seventeen analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $257.18.

Paycom Software Stock Up 1.2 %

PAYC opened at $188.89 on Friday. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 3.18 and a beta of 1.17. The firm has a 50-day moving average price of $189.82 and a 200-day moving average price of $197.60. Paycom Software, Inc. has a twelve month low of $146.15 and a twelve month high of $374.04.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. The firm had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company earned $1.38 earnings per share. On average, sell-side analysts expect that Paycom Software, Inc. will post 5.73 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.50 annualized dividend and a yield of 0.79%. Paycom Software’s dividend payout ratio is currently 25.42%.

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.