Blue Trust Inc. Has $44,000 Stake in Paycom Software, Inc. (NYSE:PAYC)

Blue Trust Inc. grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 277.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 264 shares of the software maker’s stock after buying an additional 194 shares during the period. Blue Trust Inc.’s holdings in Paycom Software were worth $44,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in Paycom Software by 3.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,544 shares of the software maker’s stock valued at $1,302,000 after buying an additional 217 shares in the last quarter. Van ECK Associates Corp boosted its position in Paycom Software by 6.9% in the first quarter. Van ECK Associates Corp now owns 9,035 shares of the software maker’s stock valued at $1,798,000 after buying an additional 581 shares in the last quarter. Norden Group LLC boosted its position in Paycom Software by 13.6% in the first quarter. Norden Group LLC now owns 3,220 shares of the software maker’s stock valued at $641,000 after buying an additional 385 shares in the last quarter. Private Advisor Group LLC boosted its position in Paycom Software by 10.9% in the first quarter. Private Advisor Group LLC now owns 2,796 shares of the software maker’s stock valued at $556,000 after buying an additional 274 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in Paycom Software in the first quarter valued at about $256,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PAYC. Jefferies Financial Group boosted their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Citigroup boosted their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays boosted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Piper Sandler boosted their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday. Thirteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $190.80.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.63, for a total transaction of $303,478.50. Following the completion of the transaction, the chief executive officer now owns 2,978,858 shares in the company, valued at approximately $463,599,670.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.63, for a total transaction of $303,478.50. Following the sale, the chief executive officer now directly owns 2,978,858 shares of the company’s stock, valued at approximately $463,599,670.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Craig E. Boelte sold 11,882 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the sale, the chief financial officer now directly owns 294,849 shares in the company, valued at $45,990,547.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,906 shares of company stock worth $11,731,540. 14.50% of the stock is owned by insiders.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $210.65 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $222.30. The company has a market capitalization of $12.10 billion, a PE ratio of 25.35, a PEG ratio of 2.45 and a beta of 1.17. The company has a 50 day moving average price of $167.57 and a two-hundred day moving average price of $163.35.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.07. The company had revenue of $437.51 million during the quarter, compared to analysts’ expectations of $436.19 million. Paycom Software had a net margin of 25.78% and a return on equity of 33.34%. On average, sell-side analysts forecast that Paycom Software, Inc. will post 6.64 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

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.