Bank of Nova Scotia Increases Stake in Paycom Software, Inc. (NYSE:PAYC)

Bank of Nova Scotia boosted its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 293.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,401 shares of the software maker's stock after buying an additional 17,457 shares during the period. Bank of Nova Scotia's holdings in Paycom Software were worth $4,796,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Private Trust Co. NA boosted its position in shares of Paycom Software by 9.3% during the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock valued at $118,000 after purchasing an additional 49 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock worth $602,000 after buying an additional 51 shares during the period. Michael S. Ryan Inc. increased its stake in shares of Paycom Software by 2.5% in the 4th quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker's stock worth $573,000 after acquiring an additional 68 shares in the last quarter. Valley National Advisers Inc. lifted its position in Paycom Software by 0.7% during the 4th quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker's stock valued at $2,192,000 after acquiring an additional 72 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in Paycom Software by 0.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 20,240 shares of the software maker's stock worth $4,184,000 after purchasing an additional 79 shares during the period. 87.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

PAYC has been the topic of a number of analyst reports. Citigroup dropped their price target on Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. lifted their price target on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Barclays reduced their price objective on shares of Paycom Software from $229.00 to $221.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd. Piper Sandler increased their price target on shares of Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Finally, Stifel Nicolaus lowered their price objective on Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a research report on Thursday, February 13th. Twelve 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 company has an average rating of "Hold" and a consensus price target of $212.80.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the transaction, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director J C. Watts, Jr. sold 500 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total value of $109,110.00. Following the sale, the director now directly owns 7,730 shares in the company, valued at $1,686,840.60. This trade represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,100 shares of company stock worth $1,476,024. 14.50% of the stock is owned by corporate insiders.

Paycom Software Stock Performance

Shares of PAYC stock traded up $1.12 during mid-day trading on Thursday, reaching $216.65. 92,143 shares of the company's stock traded hands, compared to its average volume of 717,565. The firm has a market capitalization of $12.53 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The firm has a 50 day moving average price of $213.56 and a two-hundred day moving average price of $207.43.

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

Paycom Software Announces Dividend

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

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.