Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lowered its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 32.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Barclays PLC lifted its holdings in shares of Paycom Software by 0.6% in the third quarter. Barclays PLC now owns 109,636 shares of the software maker's stock valued at $18,261,000 after purchasing an additional 617 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Paycom Software by 317.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,091 shares of the software maker's stock worth $1,044,000 after purchasing an additional 3,871 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Paycom Software by 7.7% during the 4th quarter. Park Avenue Securities LLC now owns 2,950 shares of the software maker's stock worth $605,000 after purchasing an additional 212 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in shares of Paycom Software during the 4th quarter worth approximately $246,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Paycom Software by 175.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,351 shares of the software maker's stock worth $1,507,000 after purchasing an additional 4,685 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Paycom Software Stock Down 1.4%

Shares of PAYC stock traded down $3.59 on Friday, reaching $257.91. 412,519 shares of the stock were exchanged, compared to its average volume of 700,583. The stock has a market cap of $14.92 billion, a P/E ratio of 28.98, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The firm has a 50 day moving average of $227.45 and a two-hundred day moving average of $219.63. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $262.80.

Paycom Software (NYSE:PAYC - Get Free Report) last released 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. The business had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.59 EPS. On average, equities research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed 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 is Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.58%. Paycom Software's payout ratio is 21.40%.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 120,000 shares of the company'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 completion of the sale, the chief executive officer now directly owns 3,307,249 shares of the company's stock, valued at approximately $805,381,276.48. This represents a 3.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction 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 sale, the insider now directly owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 149,926 shares of company stock worth $36,686,912 in the last ninety days. Insiders own 10.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PAYC shares. Piper Sandler lifted their price objective on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. KeyCorp lifted their price objective on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Finally, Barclays boosted their price target on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $226.90.

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.