Truist Financial Corp Has $2 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Truist Financial Corp reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 8.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,745 shares of the software maker’s stock after selling 944 shares during the quarter. Truist Financial Corp’s holdings in Paycom Software were worth $1,998,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PAYC. Creative Planning grew its position in shares of Paycom Software by 27.5% during the 3rd quarter. Creative Planning now owns 7,586 shares of the software maker’s stock worth $1,264,000 after buying an additional 1,635 shares during the period. Blue Trust Inc. grew its position in shares of Paycom Software by 277.1% in the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after purchasing an additional 194 shares during the period. Private Advisor Group LLC grew its position in shares of Paycom Software by 14.3% in the 3rd quarter. Private Advisor Group LLC now owns 2,398 shares of the software maker’s stock valued at $400,000 after purchasing an additional 300 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Paycom Software in the 3rd quarter valued at approximately $203,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Paycom Software by 10.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,442 shares of the software maker’s stock valued at $1,417,000 after purchasing an additional 825 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Paycom Software

In related news, COO Randall Peck sold 3,600 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the sale, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the sale, the director now owns 7,730 shares in the company, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.50% of the company’s stock.

Paycom Software Stock Up 0.2 %

NYSE:PAYC opened at $219.49 on Thursday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The business has a 50 day moving average price of $207.39 and a two-hundred day moving average price of $194.92. The company has a market cap of $12.57 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. As a group, analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s dividend payout ratio is currently 16.85%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PAYC. Jefferies Financial Group boosted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Citigroup decreased their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price objective on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Mizuho boosted their price objective on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Barclays decreased their price objective on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $209.22.

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.