Paycom Software, Inc. (NYSE:PAYC) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in Paycom Software, Inc. (NYSE:PAYC) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 455,271 shares of the software maker’s stock after acquiring an additional 26,934 shares during the quarter. Bank of New York Mellon Corp’s holdings in Paycom Software were worth $65,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. ARK & TLK Investments LLC acquired a new stake in shares of Paycom Software in the fourth quarter worth $2,260,000. Janney Montgomery Scott LLC increased its holdings in Paycom Software by 26.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 50,315 shares of the software maker’s stock valued at $10,401,000 after purchasing an additional 10,555 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Paycom Software by 29.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after purchasing an additional 14,670 shares during the period. Norges Bank acquired a new position in shares of Paycom Software during the fourth quarter worth about $6,670,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Paycom Software by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 302,544 shares of the software maker’s stock worth $62,542,000 after buying an additional 12,708 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several analyst reports. TD Cowen raised their target price on Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a report on Thursday, August 1st. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Citigroup decreased their target price on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Jefferies Financial Group dropped their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Seventeen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software has an average rating of “Hold” and a consensus price target of $178.33.

Paycom Software Stock Performance

Shares of Paycom Software stock opened at $162.78 on Friday. The firm has a market cap of $9.46 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $299.00. The firm’s 50-day simple moving average is $155.18 and its 200-day simple moving average is $170.35.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 26th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Monday, August 26th. Paycom Software’s dividend payout ratio is presently 18.27%.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred 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 directly owns 3,023,708 shares of the company’s stock, valued at approximately $423,923,861.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $140.20, for a total transaction of $273,390.00. Following the completion of the sale, the chief executive officer now owns 3,023,708 shares of the company’s stock, valued at approximately $423,923,861.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Amy Vickroy sold 1,381 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the sale, the executive vice president now owns 19,962 shares in the company, valued at approximately $2,862,351.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,093 shares of company stock worth $11,936,373. 14.50% of the stock is currently owned by corporate insiders.

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.