Bank of Montreal Can Lowers Stake in Paycom Software, Inc. (NYSE:PAYC)

Bank of Montreal Can trimmed its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 18.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,380 shares of the software maker's stock after selling 31,880 shares during the quarter. Bank of Montreal Can owned 0.24% of Paycom Software worth $28,774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Paycom Software during the fourth quarter valued at about $30,000. IFP Advisors Inc boosted its position in shares of Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock worth $43,000 after purchasing an additional 178 shares during the period. Blue Trust Inc. increased its holdings in Paycom Software by 33.3% in the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock valued at $72,000 after purchasing an additional 88 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Paycom Software in the 3rd quarter valued at approximately $79,000. Finally, Huntington National Bank raised its position in Paycom Software by 46.5% in the fourth quarter. Huntington National Bank now owns 551 shares of the software maker's stock valued at $113,000 after purchasing an additional 175 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

Shares of NYSE:PAYC traded down $0.41 during trading hours on Wednesday, reaching $218.89. The stock had a trading volume of 66,227 shares, compared to its average volume of 656,198. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 24.59, a P/E/G ratio of 2.40 and a beta of 0.97. The firm's 50 day moving average is $213.23 and its 200-day moving average is $207.37. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. Analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software's payout ratio is 16.85%.

Insider Activity at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the transaction, the insider now directly owns 28,733 shares in the company, valued at approximately $5,775,620.33. The trade was a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock valued at $1,476,024 over the last three months. 14.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler raised their price target on Paycom Software from $191.00 to $224.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. raised their target price on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, February 13th. Barclays reduced their price target on shares of Paycom Software from $229.00 to $221.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus dropped their price objective on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a report on Thursday, February 13th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $212.80.

Paycom Software 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.