Huntington National Bank Grows Stake in Paycom Software, Inc. (NYSE:PAYC)

Huntington National Bank grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 46.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 551 shares of the software maker’s stock after purchasing an additional 175 shares during the quarter. Huntington National Bank’s holdings in Paycom Software were worth $113,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new stake in Paycom Software during the 4th quarter valued at $30,000. IFP Advisors Inc boosted its position in Paycom Software by 635.7% in the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after buying an additional 178 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Paycom Software by 33.3% during the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock valued at $72,000 after acquiring an additional 88 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Paycom Software during the third quarter worth about $79,000. Finally, Private Trust Co. NA boosted its holdings in Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock valued at $118,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PAYC. Barclays dropped their price objective on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. upped their price target on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Citigroup decreased their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus dropped their target price on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Finally, Piper Sandler increased their price target on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $212.80.

Insider Activity at Paycom Software

In other news, Director J C. Watts, Jr. sold 500 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the sale, the director now directly owns 7,730 shares of the company’s stock, valued at $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley Scott Smith sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the sale, the insider now directly owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. This trade represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock worth $1,476,024 over the last quarter. 12.60% of the stock is currently owned by company insiders.

Paycom Software Stock Down 7.1 %

Shares of NYSE PAYC opened at $198.22 on Monday. The firm’s 50-day moving average price is $212.92 and its two-hundred day moving average price is $205.42. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The stock has a market capitalization of $11.35 billion, a P/E ratio of 22.27, a P/E/G ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC) last announced its quarterly 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%. As a group, equities research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Paycom Software Company 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.