Toronto Dominion Bank Lowers Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Toronto Dominion Bank reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 32.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,840 shares of the software maker’s stock after selling 7,985 shares during the quarter. Toronto Dominion Bank’s holdings in Paycom Software were worth $3,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PAYC. Rafferty Asset Management LLC raised its stake in shares of Paycom Software by 14.0% during the fourth quarter. Rafferty Asset Management LLC now owns 7,767 shares of the software maker’s stock worth $1,592,000 after acquiring an additional 955 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Paycom Software by 14.5% during the fourth quarter. Quantinno Capital Management LP now owns 21,890 shares of the software maker’s stock worth $4,487,000 after acquiring an additional 2,770 shares in the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of Paycom Software during the fourth quarter worth approximately $147,000. Nissay Asset Management Corp Japan ADV raised its stake in shares of Paycom Software by 1.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,357 shares of the software maker’s stock worth $1,314,000 after acquiring an additional 77 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Paycom Software by 5.4% during the fourth quarter. Nuveen Asset Management LLC now owns 125,919 shares of the software maker’s stock worth $25,810,000 after acquiring an additional 6,415 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total value of $29,222,400.00. Following the sale, the chief executive officer now owns 3,307,249 shares in the company, valued at $805,381,276.48. The trade was a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J C. Watts, Jr. sold 500 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the sale, 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 have sold a total of 149,926 shares of company stock worth $36,686,912 over the last quarter. Corporate insiders own 10.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PAYC. JPMorgan Chase & Co. lifted their price target on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Stifel Nicolaus lifted their price target on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, BMO Capital Markets upped their price target on shares of Paycom Software from $215.00 to $244.00 and gave the company a “market perform” rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $226.90.

Paycom Software Stock Up 1.6%

Shares of Paycom Software stock opened at $261.32 on Friday. The firm has a market cap of $15.12 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $262.80. The company’s fifty day simple moving average is $226.63 and its two-hundred day simple moving average is $219.43.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. The business had revenue of $530.50 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.59 earnings per share. As a group, sell-side analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, May 27th. Paycom Software’s dividend payout ratio (DPR) is currently 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.