Paycom Software, Inc. (NYSE:PAYC) Stake Increased by Northern Trust Corp

Northern Trust Corp increased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 724,016 shares of the software maker's stock after buying an additional 70,897 shares during the period. Northern Trust Corp owned about 1.26% of Paycom Software worth $148,402,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Paycom Software by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker's stock valued at $54,305,000 after purchasing an additional 41,187 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Paycom Software in the fourth quarter worth $7,142,000. Glenview Trust co boosted its position in Paycom Software by 27.1% during the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock worth $2,520,000 after purchasing an additional 2,625 shares during the period. Nordea Investment Management AB grew its position in shares of Paycom Software by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker's stock valued at $41,952,000 after purchasing an additional 6,916 shares in the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Paycom Software in the fourth quarter worth $776,000. Institutional investors own 87.77% of the company's stock.

Paycom Software Price Performance

PAYC stock traded up $21.86 during trading on Thursday, hitting $250.53. 558,571 shares of the company traded hands, compared to its average volume of 695,649. The company has a market cap of $14.49 billion, a PE ratio of 28.08, a P/E/G ratio of 2.40 and a beta of 0.80. The stock's 50-day simple moving average is $216.54 and its 200 day simple moving average is $213.46. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $250.65.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The company had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. During the same quarter in the previous year, the firm earned $2.59 EPS. The firm's revenue was up 6.1% compared to the same quarter last year. Research analysts expect 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 will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Tuesday, May 27th. Paycom Software's dividend payout ratio is presently 16.85%.

Wall Street Analyst Weigh In

PAYC has been the subject of several research reports. Barclays cut their target price on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd. BMO Capital Markets upped their price objective on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research note on Thursday. Piper Sandler raised their target price on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research note on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a report on Thursday. Finally, StockNews.com lowered Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Paycom Software presently has a consensus rating of "Hold" and a consensus price target of $225.00.

Insider Transactions at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now directly owns 7,730 shares of the company's stock, valued at approximately $1,686,840.60. The trade was a 6.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the sale, the chief operating officer now owns 50,665 shares in the company, valued at $10,750,606.35. This represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,100 shares of company stock valued at $1,476,024. Corporate insiders own 10.90% of the company's stock.

Paycom Software 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.