Paycom Software, Inc. (NYSE:PAYC) Shares Sold by TD Asset Management Inc

TD Asset Management Inc trimmed its position in Paycom Software, Inc. (NYSE:PAYC) by 36.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,562 shares of the software maker’s stock after selling 7,915 shares during the quarter. TD Asset Management Inc’s holdings in Paycom Software were worth $1,940,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PAYC. Vanguard Group Inc. raised its stake in Paycom Software by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after acquiring an additional 137,583 shares in the last quarter. Sylebra Capital LLC acquired a new stake in Paycom Software during the 1st quarter worth $253,196,000. Brown Capital Management LLC raised its stake in Paycom Software by 10.1% during the 4th quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock worth $228,642,000 after acquiring an additional 101,744 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after acquiring an additional 92,049 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Paycom Software by 14.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock worth $124,709,000 after acquiring an additional 79,299 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Up 1.1 %

Shares of NYSE:PAYC opened at $169.38 on Friday. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.38 and a beta of 1.17. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $283.00. The firm’s 50-day simple moving average is $159.32 and its 200-day simple moving average is $168.70.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s dividend payout ratio is currently 18.27%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PAYC. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays lifted their price objective on shares of Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. TD Cowen lifted their price objective on shares of Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group dropped their price objective on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, Citigroup dropped their price objective on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Seventeen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $178.33.

Insider Buying and Selling

In related news, CFO Craig E. Boelte sold 11,882 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the sale, the chief financial officer now owns 294,849 shares of the company’s stock, valued at $45,990,547.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the completion of the transaction, the chief financial officer now owns 294,849 shares in the company, valued at $45,990,547.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $167.97, for a total transaction of $327,541.50. Following the transaction, the chief executive officer now owns 2,994,458 shares of the company’s stock, valued at approximately $502,979,110.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,906 shares of company stock valued at $11,149,367. Corporate insiders own 14.50% of the company’s stock.

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.