Canandaigua National Bank & Trust Co. Purchases 941 Shares of Paycom Software, Inc. (NYSE:PAYC)

Canandaigua National Bank & Trust Co. lifted its position in Paycom Software, Inc. (NYSE:PAYC) by 53.7% during the 3rd quarter, Holdings Channel reports. The firm owned 2,692 shares of the software maker’s stock after acquiring an additional 941 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Paycom Software were worth $448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PAYC. Ashton Thomas Private Wealth LLC bought a new stake in Paycom Software in the second quarter valued at $25,000. Mather Group LLC. bought a new stake in Paycom Software in the first quarter valued at $26,000. MFA Wealth Advisors LLC bought a new stake in Paycom Software in the second quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Paycom Software in the second quarter valued at $27,000. Finally, Palisade Asset Management LLC bought a new stake in Paycom Software in the first quarter valued at $32,000. Institutional investors own 87.77% of the company’s stock.

Insider Transactions at Paycom Software

In other news, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $140.20, for a total transaction of $273,390.00. Following the sale, the chief executive officer now owns 3,023,708 shares in the company, valued at approximately $423,923,861.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the sale, the insider now owns 14,769 shares in the company, valued at $2,327,889.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,856 shares of company stock valued at $11,841,695 in the last ninety days. Corporate insiders own 14.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PAYC shares. Citigroup cut their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Jefferies Financial Group lowered their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, Barclays boosted their target price on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Paycom Software presently has a consensus rating of “Hold” and a consensus target price of $179.75.

Paycom Software Stock Up 0.8 %

PAYC stock traded up $1.41 during midday trading on Friday, hitting $167.97. The company’s stock had a trading volume of 356,196 shares, compared to its average volume of 833,541. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $279.96. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 2.37 and a beta of 1.17. The company has a 50 day moving average of $163.73 and a two-hundred day moving average of $167.17.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The business had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. On average, analysts anticipate that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were issued a dividend of $0.375 per share. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.89%. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

About Paycom Software

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.