Equitable Trust Co. Has $277,000 Holdings in Paycom Software, Inc. $PAYC

Key Points

• Equitable Trust Co. significantly reduced its holdings in Paycom Software by 78.5% during Q2, owning $277,000 worth of shares after selling 4,361 shares.
• Multiple analysts adjusted their price targets for Paycom, with BMO Capital Markets raising it to $258.00 while UBS Group lowered it to $285.00.
• Paycom Software recently announced a quarterly dividend of $0.375 per share, representing a 0.8% dividend yield and a payout ratio of 20.30%.

Equitable Trust Co. cut its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 78.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,196 shares of the software maker's stock after selling 4,361 shares during the period. Equitable Trust Co.'s holdings in Paycom Software were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC lifted its position in Paycom Software by 8.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker's stock valued at $323,000 after purchasing an additional 114 shares during the period. SG Americas Securities LLC lifted its position in Paycom Software by 57.1% during the 1st quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker's stock valued at $587,000 after purchasing an additional 976 shares during the period. GAMMA Investing LLC lifted its position in Paycom Software by 54.5% during the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker's stock valued at $198,000 after purchasing an additional 319 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Paycom Software during the 1st quarter valued at about $690,000. Finally, Exchange Traded Concepts LLC lifted its position in Paycom Software by 15.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker's stock valued at $220,000 after purchasing an additional 136 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on PAYC shares. BMO Capital Markets increased their price target on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a research report on Thursday, August 7th. UBS Group cut their price target on shares of Paycom Software from $310.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. Barclays increased their price target on shares of Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Cantor Fitzgerald upgraded shares of Paycom Software to a "hold" rating in a research report on Thursday, September 11th. Finally, KeyCorp increased their price target on shares of Paycom Software from $285.00 to $290.00 and gave the company 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $245.62.

Insider Buying and Selling at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the transaction, the insider directly owned 24,533 shares of the company's stock, valued at $5,477,482.91. This trade represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.90% of the stock is owned by corporate insiders.

Paycom Software Stock Performance

Shares of PAYC stock opened at $199.94 on Thursday. The company has a market capitalization of $11.57 billion, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. The company's 50 day moving average price is $217.50 and its two-hundred day moving average price is $228.50. Paycom Software, Inc. has a 52 week low of $161.24 and a 52 week high of $267.76.

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

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, August 25th. Paycom Software's dividend payout ratio (DPR) is currently 20.30%.

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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