Chevy Chase Trust Holdings LLC Purchases 1,168 Shares of Paycom Software, Inc. $PAYC

Chevy Chase Trust Holdings LLC boosted its position in Paycom Software, Inc. (NYSE:PAYC) by 4.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,864 shares of the software maker’s stock after purchasing an additional 1,168 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Paycom Software were worth $5,985,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Brooklyn Investment Group raised its holdings in Paycom Software by 19.4% in the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock worth $52,000 after purchasing an additional 39 shares in the last quarter. Commerce Bank raised its holdings in Paycom Software by 2.2% in the first quarter. Commerce Bank now owns 2,351 shares of the software maker’s stock worth $514,000 after purchasing an additional 50 shares in the last quarter. Allworth Financial LP raised its holdings in Paycom Software by 12.9% in the first quarter. Allworth Financial LP now owns 464 shares of the software maker’s stock worth $105,000 after purchasing an additional 53 shares in the last quarter. US Bancorp DE increased its holdings in shares of Paycom Software by 0.5% during the first quarter. US Bancorp DE now owns 10,421 shares of the software maker’s stock valued at $2,277,000 after acquiring an additional 57 shares in the last quarter. Finally, Burns Matteson Capital Management LLC increased its holdings in shares of Paycom Software by 2.5% during the first quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker’s stock valued at $513,000 after acquiring an additional 58 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Stock Up 0.4%

Shares of NYSE PAYC opened at $201.46 on Tuesday. The business’s 50 day moving average price is $215.88 and its 200 day moving average price is $228.43. The firm has a market cap of $11.66 billion, a P/E ratio of 27.26, a P/E/G ratio of 2.20 and a beta of 0.82. Paycom Software, Inc. has a 52 week low of $162.62 and a 52 week high of $267.76.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The business had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. During the same quarter in the prior year, the firm posted $1.62 EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, August 25th. Paycom Software’s dividend payout ratio is currently 20.30%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PAYC shares. Guggenheim started coverage on shares of Paycom Software in a report on Friday, September 26th. They set a “buy” rating and a $270.00 price objective on the stock. Jefferies Financial Group cut their price objective on shares of Paycom Software from $250.00 to $225.00 and set a “hold” rating on the stock in a report on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of Paycom Software in a report on Wednesday, October 8th. BMO Capital Markets upped their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. Finally, UBS Group cut their price objective on shares of Paycom Software from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $245.62.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the sale, the insider owned 24,533 shares in the company, valued at approximately $5,477,482.91. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 10.90% of the company’s stock.

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.