Trust Point Inc. Cuts Stake in Paycom Software, Inc. (NYSE:PAYC)

Trust Point Inc. lessened its stake in Paycom Software, Inc. (NYSE:PAYC) by 9.1% in the first quarter, HoldingsChannel.com reports. The firm owned 3,530 shares of the software maker’s stock after selling 355 shares during the quarter. Trust Point Inc.’s holdings in Paycom Software were worth $771,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in shares of Paycom Software in the 4th quarter valued at about $7,142,000. Glenview Trust co increased its holdings in shares of Paycom Software by 27.1% in the 4th quarter. Glenview Trust co now owns 12,294 shares of the software maker’s stock valued at $2,520,000 after purchasing an additional 2,625 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Paycom Software by 43.0% in the 4th quarter. American Century Companies Inc. now owns 52,755 shares of the software maker’s stock valued at $10,813,000 after purchasing an additional 15,852 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Paycom Software by 0.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 20,240 shares of the software maker’s stock valued at $4,184,000 after purchasing an additional 79 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Paycom Software by 11.9% in the 1st quarter. Rhumbline Advisers now owns 102,936 shares of the software maker’s stock valued at $22,489,000 after purchasing an additional 10,908 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PAYC shares. Stifel Nicolaus increased their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a “hold” rating in a report on Thursday, May 8th. Barclays boosted their target price on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Piper Sandler boosted their target price on Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. KeyCorp boosted their target price on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, Wall Street Zen cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Eleven equities research 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $226.90.

Insiders Place Their Bets

In other Paycom Software news, COO Randall Peck sold 890 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the sale, the chief operating officer now directly owns 49,394 shares of the company’s stock, valued at $13,000,994.74. This trade represents a 1.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the transaction, the insider now owns 27,233 shares in the company, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,016 shares of company stock valued at $42,736,608 in the last ninety days. Insiders own 10.90% of the company’s stock.

Paycom Software Trading Up 0.5%

Shares of NYSE PAYC opened at $246.24 on Tuesday. The stock has a market cap of $14.25 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 2.40 and a beta of 0.81. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $267.76. The company’s 50-day moving average price is $240.37 and its 200 day moving average price is $222.79.

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

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.61%. Paycom Software’s dividend payout ratio 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.