Fulton Bank N.A. Cuts Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Fulton Bank N.A. trimmed its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 11.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,819 shares of the software maker’s stock after selling 362 shares during the quarter. Fulton Bank N.A.’s holdings in Paycom Software were worth $578,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in shares of Paycom Software by 51.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock worth $444,000 after purchasing an additional 905 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Paycom Software by 14.5% during the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after acquiring an additional 41,187 shares during the last quarter. Profund Advisors LLC acquired a new position in shares of Paycom Software during the second quarter valued at approximately $589,000. Sylebra Capital LLC lifted its position in shares of Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after acquiring an additional 685,190 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Paycom Software by 9.3% in the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after acquiring an additional 5,574 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $163.51, for a total transaction of $318,844.50. Following the transaction, the chief executive officer now directly owns 2,770,410 shares in the company, valued at $452,989,739.10. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 27,300 shares of company stock valued at $5,172,921 over the last 90 days. 12.60% of the stock is owned by company insiders.

Paycom Software Stock Down 1.2 %

NYSE:PAYC opened at $199.58 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The stock’s fifty day moving average is $220.99 and its two-hundred day moving average is $181.66. The company has a market capitalization of $11.51 billion, a P/E ratio of 24.02, a P/E/G ratio of 3.12 and a beta of 1.14.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were given a $0.375 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.75%. Paycom Software’s payout ratio is currently 18.05%.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several recent research reports. BMO Capital Markets increased their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. TD Cowen raised their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Citigroup upped their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $202.56.

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.