Comerica Bank Sells 1,243 Shares of Paycom Software, Inc. $PAYC

Key Points

• Comerica Bank has reduced its holdings in Paycom Software, resulting in an 8.7% decrease, now owning 13,025 shares worth approximately $2.85 million.
• Several institutional investors, including Kingsview Wealth Management and SG Americas Securities, have increased their stakes in Paycom Software, indicating a positive sentiment toward the company.
• Paycom Software recently announced a $0.375 quarterly dividend, contributing to a 0.7% dividend yield, with an annualized payout of $1.50.

Comerica Bank lessened its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 8.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,025 shares of the software maker's stock after selling 1,243 shares during the quarter. Comerica Bank's holdings in Paycom Software were worth $2,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sylebra Capital LLC increased its position in Paycom Software by 63.8% in the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock valued at $658,996,000 after acquiring an additional 1,252,617 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Paycom Software by 1,918.4% during the first quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker's stock worth $346,180,000 after buying an additional 1,505,990 shares during the last quarter. Invesco Ltd. raised its stake in shares of Paycom Software by 5.0% during the first quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker's stock worth $269,398,000 after buying an additional 58,176 shares during the last quarter. Northern Trust Corp raised its stake in shares of Paycom Software by 2.3% during the first quarter. Northern Trust Corp now owns 740,385 shares of the software maker's stock worth $161,759,000 after buying an additional 16,369 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Paycom Software by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 502,345 shares of the software maker's stock worth $109,752,000 after buying an additional 4,272 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Buying and Selling at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the 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 transaction, the insider directly owned 27,233 shares of the company's stock, valued at $6,807,160.68. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on PAYC. Cantor Fitzgerald began coverage on shares of Paycom Software in a research note on Thursday, August 14th. They issued a "neutral" rating and a $230.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Stifel Nicolaus upped their target price on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, Barclays upped their target price on shares of Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $234.36.

Paycom Software Trading Up 0.4%

Shares of Paycom Software stock traded up $0.92 during trading on Wednesday, reaching $220.92. The stock had a trading volume of 785,397 shares, compared to its average volume of 628,617. The company has a market capitalization of $12.79 billion, a price-to-earnings ratio of 29.89, a P/E/G ratio of 2.48 and a beta of 0.81. The stock has a fifty day moving average price of $228.04 and a two-hundred day moving average price of $229.20. Paycom Software, Inc. has a 52 week low of $153.08 and a 52 week high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The business had revenue of $483.60 million during the quarter, compared to analysts' expectations of $472.00 million. During the same quarter in the prior year, the company posted $1.62 earnings per share. The firm's revenue was up 10.5% on a year-over-year basis. On average, equities analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 25th will be paid a $0.375 dividend. The ex-dividend date is Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. Paycom Software's dividend payout ratio (DPR) is currently 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.