Bank of Montreal Can Sells 31,880 Shares of Paycom Software, Inc. (NYSE:PAYC)

Bank of Montreal Can reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 18.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,380 shares of the software maker’s stock after selling 31,880 shares during the period. Bank of Montreal Can owned 0.24% of Paycom Software worth $28,774,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PAYC. FMR LLC raised its stake in Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock worth $491,201,000 after buying an additional 1,388,533 shares during the period. Ilmarinen Mutual Pension Insurance Co raised its position in shares of Paycom Software by 30.0% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 32,500 shares of the software maker’s stock worth $6,662,000 after purchasing an additional 7,500 shares during the period. Aviva PLC lifted its holdings in shares of Paycom Software by 22.4% in the 4th quarter. Aviva PLC now owns 17,241 shares of the software maker’s stock worth $3,534,000 after purchasing an additional 3,154 shares in the last quarter. Hel Ved Capital Management Ltd acquired a new stake in Paycom Software in the 4th quarter valued at $1,230,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Paycom Software during the 4th quarter valued at $738,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Price Performance

NYSE PAYC opened at $210.31 on Friday. The stock has a market capitalization of $12.04 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 2.40 and a beta of 0.97. The business’s fifty day moving average is $212.49 and its 200-day moving average is $206.32. Paycom Software, Inc. has a one year low of $139.50 and a one year 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 for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Monday, March 10th. Paycom Software’s dividend payout ratio is currently 16.85%.

Insider Buying and Selling at Paycom Software

In other news, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the transaction, the chief operating officer now owns 50,665 shares in the company, valued at $10,750,606.35. This trade represents a 6.63 % 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. Also, insider Bradley Scott Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the sale, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. The trade was a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock worth $1,476,024 over the last ninety days. 14.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price target on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. KeyCorp upgraded Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 target price on the stock in a report on Monday, March 10th. Finally, Piper Sandler upped their price target on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software presently has a consensus 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.