City National Bank of Florida MSD Takes $247,000 Position in Paycom Software, Inc. (NYSE:PAYC)

City National Bank of Florida MSD purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,203 shares of the software maker's stock, valued at approximately $247,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new position in shares of Paycom Software in the fourth quarter worth about $82,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Paycom Software by 20.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 296,763 shares of the software maker's stock valued at $60,828,000 after purchasing an additional 49,422 shares in the last quarter. Woodline Partners LP acquired a new position in Paycom Software in the 4th quarter worth about $1,377,000. Zurich Insurance Group Ltd FI purchased a new position in Paycom Software during the fourth quarter worth approximately $60,882,000. Finally, Sone Capital Management LLC purchased a new position in Paycom Software during the fourth quarter worth approximately $611,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PAYC shares. BMO Capital Markets upped their target price on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. Piper Sandler upped their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. KeyCorp lifted their target price on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Stifel Nicolaus boosted their target price on shares of Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Finally, Barclays raised their price target on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Eleven equities 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 company has an average rating of "Hold" and a consensus target price of $226.90.

Insider Activity

In other Paycom Software news, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction 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 owns 7,730 shares in the company, valued at $1,686,840.60. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,526 shares of company stock valued at $37,450,796. 10.90% of the stock is currently owned by insiders.

Paycom Software Trading Down 1.3%

Shares of NYSE PAYC opened at $257.25 on Thursday. The stock has a market cap of $14.88 billion, a PE ratio of 28.90, a P/E/G ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $261.69. The company has a 50-day moving average of $225.72 and a 200 day moving average of $219.09.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The business had revenue of $530.50 million for the quarter, compared to analysts' expectations of $522.92 million. During the same period in the previous year, the firm posted $2.59 EPS. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.58%. Paycom Software's dividend payout ratio is presently 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.

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