Glenview Trust co Buys 2,625 Shares of Paycom Software, Inc. (NYSE:PAYC)

Glenview Trust co boosted its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 27.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,294 shares of the software maker’s stock after buying an additional 2,625 shares during the period. Glenview Trust co’s holdings in Paycom Software were worth $2,520,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sylebra Capital LLC increased its stake in Paycom Software by 0.3% during the 3rd quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock valued at $326,888,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in Paycom Software by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock worth $237,015,000 after acquiring an additional 45,404 shares during the last quarter. FMR LLC raised its stake in shares of Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Paycom Software by 1.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock worth $104,524,000 after buying an additional 6,488 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Paycom Software by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker’s stock valued at $102,090,000 after purchasing an additional 11,611 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Randall Peck sold 3,600 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the sale, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the transaction, the director now directly owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.50% of the stock is owned by company insiders.

Paycom Software Stock Performance

Shares of PAYC stock opened at $208.08 on Monday. The stock has a fifty day simple moving average of $209.04 and a two-hundred day simple moving average of $199.78. The firm has a market capitalization of $11.92 billion, a PE ratio of 23.38, a PEG ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, sell-side analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PAYC. Stifel Nicolaus dropped their target price on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Citigroup reduced their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. TD Cowen upped their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Paycom Software presently has an average rating of “Hold” and an average target price of $212.80.

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.