Toronto Dominion Bank Has $3.45 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Toronto Dominion Bank decreased its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 32.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,840 shares of the software maker's stock after selling 7,985 shares during the quarter. Toronto Dominion Bank's holdings in Paycom Software were worth $3,452,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. Private Trust Co. NA grew its holdings in Paycom Software by 9.3% in the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock worth $118,000 after buying an additional 49 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Paycom Software by 1.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock valued at $602,000 after acquiring an additional 51 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of Paycom Software by 1.1% during the fourth quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker's stock valued at $1,128,000 after acquiring an additional 60 shares during the period. Fiduciary Trust Co increased its stake in shares of Paycom Software by 1.6% during the fourth quarter. Fiduciary Trust Co now owns 4,495 shares of the software maker's stock valued at $921,000 after acquiring an additional 71 shares during the period. Finally, Valley National Advisers Inc. raised its holdings in Paycom Software by 0.7% during the fourth quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker's stock worth $2,192,000 after purchasing an additional 72 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Trading Up 0.2%

Shares of PAYC traded up $0.40 during midday trading on Monday, hitting $259.49. The stock had a trading volume of 590,682 shares, compared to its average volume of 688,077. The business has a 50-day simple moving average of $231.35 and a two-hundred day simple moving average of $220.66. The firm has a market cap of $15.01 billion, a P/E ratio of 29.16, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $262.80.

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

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.58%. The ex-dividend date is Tuesday, May 27th. Paycom Software's dividend payout ratio is currently 21.40%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PAYC. KeyCorp increased their price target on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. BMO Capital Markets raised their target price on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Wall Street Zen downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, Barclays raised their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $226.90.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the sale, the insider now owns 28,733 shares of the company's stock, valued at $5,775,620.33. This trade represents a 9.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Chad R. Richison sold 120,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the transaction, the chief executive officer now owns 3,307,249 shares in the company, valued at $805,381,276.48. This represents a 3.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 149,426 shares of company stock valued at $36,577,802. Corporate insiders own 10.90% of the company's stock.

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.