Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lessened its holdings in Paycom Software, Inc. (NYSE:PAYC) by 12.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,256 shares of the software maker’s stock after selling 3,536 shares during the period. Toronto Dominion Bank’s holdings in Paycom Software were worth $3,470,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new stake in Paycom Software in the 2nd quarter valued at approximately $25,000. Mather Group LLC. acquired a new stake in shares of Paycom Software during the first quarter valued at $26,000. MFA Wealth Advisors LLC purchased a new stake in Paycom Software during the 2nd quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software during the 2nd quarter worth about $27,000. Finally, Palisade Asset Management LLC acquired a new position in Paycom Software in the 1st quarter valued at about $32,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $167.80 on Monday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $279.96. The stock has a 50-day simple moving average of $163.26 and a 200-day simple moving average of $167.82. The stock has a market capitalization of $9.64 billion, a P/E ratio of 20.44, a PEG ratio of 2.46 and a beta of 1.17.

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

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a $0.375 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a yield of 0.89%. Paycom Software’s payout ratio is currently 18.27%.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of recent research reports. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Barclays boosted their price target on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. TD Cowen raised their price objective on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Finally, Jefferies Financial Group decreased their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Seventeen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $179.75.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $143.30, for a total value of $279,435.00. Following the sale, the chief executive officer now owns 3,031,508 shares in the company, valued at approximately $434,415,096.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now owns 14,769 shares in the company, valued at $2,327,889.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $143.30, for a total value of $279,435.00. Following the completion of the transaction, the chief executive officer now owns 3,031,508 shares of the company’s stock, valued at $434,415,096.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,906 shares of company stock valued at $11,419,364. Insiders own 14.50% of the company’s stock.

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.