Scotia Capital Inc. Takes $1.50 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Scotia Capital Inc. bought a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,311 shares of the software maker's stock, valued at approximately $1,499,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC increased its position in Paycom Software by 137.8% in the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock worth $491,201,000 after buying an additional 1,388,533 shares during the period. Geode Capital Management LLC increased its stake in Paycom Software by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker's stock valued at $310,245,000 after acquiring an additional 89,848 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Paycom Software by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock worth $102,090,000 after acquiring an additional 11,611 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Paycom Software by 1,153.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock valued at $82,375,000 after purchasing an additional 369,825 shares during the period. Finally, Boston Trust Walden Corp raised its stake in shares of Paycom Software by 3.3% in the fourth quarter. Boston Trust Walden Corp now owns 359,695 shares of the software maker's stock valued at $73,727,000 after purchasing an additional 11,595 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several analyst reports. KeyCorp raised shares of Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price target on the stock in a report on Monday, March 10th. Citigroup decreased their price target on Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on shares of Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. StockNews.com lowered shares of Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a report on Thursday, February 13th. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $212.80.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value 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. The trade was a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 completion of the sale, the chief operating officer now owns 50,665 shares of the company's stock, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock valued at $1,476,024 over the last 90 days. 10.90% of the stock is currently owned by insiders.

Paycom Software Trading Up 0.6 %

Shares of PAYC stock traded up $1.39 during trading hours on Friday, hitting $216.92. 403,689 shares of the company were exchanged, compared to its average volume of 718,771. The company has a market capitalization of $12.55 billion, a PE ratio of 24.37, a PEG ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The business has a 50 day moving average of $214.08 and a two-hundred day moving average of $208.12.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Monday, March 10th. Paycom Software's payout ratio is currently 16.85%.

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.