Paycom Software, Inc. (NYSE:PAYC) Stake Lessened by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust cut its stake in Paycom Software, Inc. (NYSE:PAYC) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,518 shares of the software maker’s stock after selling 150 shares during the period. Parkside Financial Bank & Trust’s holdings in Paycom Software were worth $311,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in Paycom Software during the third quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. lifted its stake in Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after purchasing an additional 77 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Paycom Software by 821.7% during the third 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 lifted its stake in Paycom Software by 635.7% during 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 last quarter. Finally, Blue Trust Inc. lifted its stake in Paycom Software by 277.1% during the third quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after purchasing an additional 194 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Randall Peck sold 3,600 shares of the stock in a transaction on 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 $10,750,606.35. This represents a 6.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the 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 in the company, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 14.50% of the company’s stock.

Analyst Upgrades and Downgrades

PAYC has been the subject of several recent research reports. Barclays cut their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. TD Cowen increased their target price on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Finally, Stifel Nicolaus reduced their price target on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $209.22.

Paycom Software Stock Up 1.3 %

PAYC stock opened at $219.19 on Friday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 2.40 and a beta of 1.15. The company has a 50 day moving average of $208.01 and a two-hundred day moving average of $195.70.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business 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 $0.375 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.68%. Paycom Software’s payout ratio is 16.85%.

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.