M&T Bank Corp Has $627,000 Stock Position in Paycom Software, Inc. (NYSE:PAYC)

M&T Bank Corp cut its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 18.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,869 shares of the software maker’s stock after selling 640 shares during the period. M&T Bank Corp’s holdings in Paycom Software were worth $627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PAYC. Glass Jacobson Investment Advisors llc grew its stake in shares of Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock worth $26,000 after purchasing an additional 112 shares during the period. von Borstel & Associates Inc. acquired a new stake in shares of Paycom Software during the first quarter worth $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Paycom Software during the fourth quarter worth $30,000. Golden State Wealth Management LLC lifted its holdings in Paycom Software by 112.3% during the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock worth $30,000 after acquiring an additional 73 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock worth $33,000 after acquiring an additional 87 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 other news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the transaction, the insider directly owned 27,233 shares of the company’s stock, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Randall Peck sold 890 shares of Paycom Software 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 completion of the transaction, the chief operating officer directly owned 49,394 shares of the company’s stock, valued at $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 172,016 shares of company stock valued at $42,736,608. Corporate insiders own 10.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PAYC. Barclays upped their target price on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. Piper Sandler boosted their price target on Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. BMO Capital Markets boosted their price target on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a research report on Thursday, May 8th. Stifel Nicolaus boosted their price target on Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Finally, KeyCorp boosted their price target on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $226.90.

Paycom Software Stock Up 0.0%

PAYC opened at $222.03 on Wednesday. The firm has a market cap of $12.84 billion, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.77. Paycom Software, Inc. has a 52 week low of $152.45 and a 52 week high of $267.76. The business’s 50 day moving average is $245.46 and its two-hundred day moving average is $223.82.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The business had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. During the same period in the prior year, the business posted $2.59 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 27th. Paycom Software’s dividend payout ratio is presently 21.40%.

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.