Paycom Software, Inc. $PAYC Stock Position Decreased by US Bancorp DE

US Bancorp DE cut its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 7.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,603 shares of the software maker’s stock after selling 818 shares during the period. US Bancorp DE’s holdings in Paycom Software were worth $2,222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Brooklyn Investment Group boosted its stake in Paycom Software by 19.4% in the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock worth $52,000 after purchasing an additional 39 shares in the last quarter. Commerce Bank boosted its stake in Paycom Software by 2.2% in the first quarter. Commerce Bank now owns 2,351 shares of the software maker’s stock worth $514,000 after purchasing an additional 50 shares in the last quarter. Allworth Financial LP boosted its stake in Paycom Software by 12.9% in the first quarter. Allworth Financial LP now owns 464 shares of the software maker’s stock worth $105,000 after purchasing an additional 53 shares in the last quarter. Burns Matteson Capital Management LLC boosted its stake in Paycom Software by 2.5% in the first quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker’s stock worth $513,000 after purchasing an additional 58 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in Paycom Software by 11.0% in the first quarter. Private Trust Co. NA now owns 638 shares of the software maker’s stock worth $139,000 after purchasing an additional 63 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on PAYC shares. Cantor Fitzgerald raised Paycom Software to a “hold” rating in a research note on Thursday, September 11th. UBS Group dropped their target price on Paycom Software from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Barclays boosted their target price on Paycom Software from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Guggenheim assumed coverage on Paycom Software in a research report on Friday, September 26th. They set a “buy” rating and a $270.00 target price for the company. Finally, KeyCorp boosted their target price on Paycom Software from $285.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and an average target price of $245.62.

Insider Activity at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the sale, the insider directly owned 24,533 shares in the company, valued at $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.90% of the stock is currently owned by company insiders.

Paycom Software Trading Down 0.3%

NYSE:PAYC opened at $199.94 on Thursday. Paycom Software, Inc. has a 1 year low of $161.24 and a 1 year high of $267.76. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 2.20 and a beta of 0.82. The stock has a 50-day moving average price of $217.50 and a two-hundred day moving average price of $228.50.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.28. The firm had revenue of $483.60 million during the quarter, compared to analysts’ expectations of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The company’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.62 earnings per share. Sell-side analysts forecast 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, September 8th. Stockholders of record on Monday, August 25th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, August 25th. Paycom Software’s payout ratio is 20.30%.

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.