Paycom Software, Inc. (NYSE:PAYC) Shares Bought by Bank of Montreal Can

Bank of Montreal Can lifted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 64.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 233,611 shares of the software maker’s stock after purchasing an additional 91,267 shares during the period. Bank of Montreal Can’s holdings in Paycom Software were worth $33,661,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PAYC. Empirical Finance LLC increased its stake in Paycom Software by 3.9% during the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after acquiring an additional 60 shares during the last quarter. Optas LLC increased its position in Paycom Software by 6.1% during the 1st quarter. Optas LLC now owns 1,059 shares of the software maker’s stock worth $211,000 after purchasing an additional 61 shares in the last quarter. Wahed Invest LLC raised its holdings in Paycom Software by 7.9% in the fourth quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock valued at $181,000 after buying an additional 64 shares during the period. Andina Capital Management LLC lifted its position in Paycom Software by 4.5% during the second quarter. Andina Capital Management LLC now owns 1,588 shares of the software maker’s stock valued at $227,000 after buying an additional 68 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Paycom Software by 1.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock valued at $661,000 after buying an additional 79 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

NYSE:PAYC opened at $167.46 on Friday. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 2.44 and a beta of 1.17. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $279.96. The business has a fifty day moving average of $162.82 and a 200-day moving average of $168.07.

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

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $142.43, for a total value of $277,738.50. Following the transaction, the chief executive officer now owns 3,035,408 shares of the company’s stock, valued at approximately $432,333,161.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the sale, the insider now owns 14,769 shares in the company, valued at $2,327,889.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, July 1st. The shares were sold at an average price of $142.43, for a total value of $277,738.50. Following the transaction, the chief executive officer now owns 3,035,408 shares in the company, valued at approximately $432,333,161.44. The disclosure for this sale can be found here. Insiders sold a total of 73,856 shares of company stock valued at $11,697,103 over the last three months. Insiders own 14.50% of the company’s stock.

Wall Street Analyst Weigh In

PAYC has been the topic of a number of research reports. Jefferies Financial Group cut their target price 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. TD Cowen boosted their price objective on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, 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. Seventeen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $179.75.

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.