Paycom Software, Inc. $PAYC Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 162,969 shares of the software maker’s stock after selling 15,940 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.28% of Paycom Software worth $37,711,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Allworth Financial LP boosted its position in Paycom Software by 76.7% during the second quarter. Allworth Financial LP now owns 820 shares of the software maker’s stock worth $190,000 after acquiring an additional 356 shares during the last quarter. Americana Partners LLC lifted its stake in Paycom Software by 11.6% in the 2nd quarter. Americana Partners LLC now owns 4,855 shares of the software maker’s stock worth $1,123,000 after purchasing an additional 504 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Paycom Software by 26.7% during the 2nd quarter. ProShare Advisors LLC now owns 9,109 shares of the software maker’s stock worth $2,108,000 after purchasing an additional 1,919 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Paycom Software in the second quarter valued at approximately $1,020,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Paycom Software in the second quarter valued at approximately $4,190,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PAYC. UBS Group dropped their target price on Paycom Software from $285.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, November 6th. TD Cowen cut their price objective on shares of Paycom Software from $258.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Guggenheim started coverage on shares of Paycom Software in a report on Friday, September 26th. They issued a “buy” rating and a $270.00 target price on the stock. BMO Capital Markets raised their price target on shares of Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a report on Thursday, August 7th. Finally, Cantor Fitzgerald raised shares of Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $225.77.

Insider Activity at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction 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 directly owned 24,533 shares in the company, valued at $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.90% of the company’s stock.

Paycom Software Stock Down 1.9%

PAYC opened at $164.43 on Friday. Paycom Software, Inc. has a 52 week low of $156.50 and a 52 week high of $267.76. The business has a fifty day simple moving average of $201.38 and a 200-day simple moving average of $224.68. The firm has a market cap of $9.25 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.83 and a beta of 0.88.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, November 5th. The software maker reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). The firm had revenue of $493.30 million for the quarter, compared to analysts’ expectations of $492.62 million. Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.67 earnings per share. Paycom Software has set its FY 2025 guidance at EPS. Sell-side analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 24th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, November 24th. Paycom Software’s payout ratio is 18.66%.

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.