Paycom Software, Inc. (NYSE:PAYC) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp increased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 15.8% in the fourth quarter, Holdings Channel reports. The firm owned 7,835 shares of the software maker’s stock after buying an additional 1,071 shares during the quarter. Cibc World Markets Corp’s holdings in Paycom Software were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brooklyn Investment Group acquired a new stake in shares of Paycom Software during the third quarter worth about $28,000. Pin Oak Investment Advisors Inc. lifted its position in Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after purchasing an additional 178 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Paycom Software by 33.3% during the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after purchasing an additional 88 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $218.22, for a total value of $109,110.00. Following the transaction, the director now directly owns 7,730 shares of the company’s stock, valued at $1,686,840.60. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock valued at $1,476,024 over the last quarter. Corporate insiders own 14.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Citigroup dropped their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. KeyCorp upgraded shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price objective for the company in a research report on Monday, March 10th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their target price on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $212.80.

Paycom Software Price Performance

NYSE PAYC opened at $218.74 on Friday. The business has a 50 day moving average price of $210.52 and a 200 day moving average price of $201.15. The company has a market capitalization of $12.53 billion, a P/E ratio of 24.58, a PEG ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74.

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

Paycom Software Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Monday, March 10th. Paycom Software’s payout ratio is currently 16.85%.

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.