Wesbanco Bank Inc. Buys New Shares in Paycom Software, Inc. (NYSE:PAYC)

Wesbanco Bank Inc. purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,312 shares of the software maker’s stock, valued at approximately $219,000.

A number of other large investors have also recently added to or reduced their stakes in PAYC. Vanguard Group Inc. increased its stake in shares of Paycom Software by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after purchasing an additional 137,583 shares during the last quarter. Sylebra Capital LLC increased its position in Paycom Software by 53.9% during the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after buying an additional 685,190 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Paycom Software by 9.4% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock valued at $152,925,000 after buying an additional 92,049 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Paycom Software by 14.5% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock valued at $124,709,000 after buying an additional 79,299 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after buying an additional 529,591 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $163.57 on Thursday. The business has a fifty day moving average price of $163.92 and a two-hundred day moving average price of $165.28. The stock has a market capitalization of $9.51 billion, a PE ratio of 19.92, a P/E/G ratio of 2.31 and a beta of 1.17. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $275.67.

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

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were paid 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 0.92%. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $158.27, for a total value of $308,626.50. Following the sale, the chief executive officer now owns 3,008,108 shares of the company’s stock, valued at approximately $476,093,253.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were 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 $45,990,547.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $158.27, for a total transaction of $308,626.50. Following the completion of the sale, the chief executive officer now owns 3,008,108 shares in the company, valued at $476,093,253.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,906 shares of company stock worth $11,669,140 over the last three months. Corporate insiders own 14.50% of the company’s stock.

Analyst Upgrades and Downgrades

PAYC has been the topic of a number of research analyst reports. Jefferies Financial Group dropped 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. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Barclays lifted their target price on shares of Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, TD Cowen boosted 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. Seventeen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $180.17.

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.