UMB Bank n.a. Sells 400 Shares of Paycom Software, Inc. (NYSE:PAYC)

UMB Bank n.a. decreased its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 37.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 677 shares of the software maker’s stock after selling 400 shares during the quarter. UMB Bank n.a.’s holdings in Paycom Software were worth $113,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Sylebra Capital LLC bought a new position in shares of Paycom Software during the first quarter valued at $253,196,000. Federated Hermes Inc. boosted its holdings in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after acquiring an additional 529,591 shares during the last quarter. Raymond James & Associates grew its stake in shares of Paycom Software by 769.2% in the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after acquiring an additional 178,198 shares during the period. Strategic Financial Concepts LLC raised its holdings in shares of Paycom Software by 12,268.6% during the second quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock valued at $242,000 after purchasing an additional 167,834 shares during the last quarter. Finally, Sather Financial Group Inc bought a new position in Paycom Software during the second quarter valued at approximately $23,519,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays upped their price target on shares of Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research report on Friday. Jefferies Financial Group cut their target price on shares of 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, Citigroup decreased their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $180.17.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $155.85, for a total transaction of $303,907.50. Following the completion of the transaction, the chief executive officer now directly owns 3,010,058 shares of the company’s stock, valued at approximately $469,117,539.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $155.85, for a total value of $303,907.50. Following the sale, the chief executive officer now directly owns 3,010,058 shares in the company, valued at $469,117,539.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the transaction, the chief financial officer now owns 294,849 shares of the company’s stock, valued at approximately $45,990,547.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,956 shares of company stock worth $11,342,924 over the last 90 days. Corporate insiders own 14.50% of the company’s stock.

Paycom Software Stock Down 0.9 %

NYSE PAYC opened at $162.50 on Monday. The business has a 50-day moving average price of $163.44 and a 200-day moving average price of $166.00. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.17. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $278.23.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The business had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. Research analysts expect that Paycom Software, Inc. will post 6.67 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

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.