Fulton Bank N.A. Sells 362 Shares of Paycom Software, Inc. (NYSE:PAYC)

Fulton Bank N.A. reduced its position in Paycom Software, Inc. (NYSE:PAYC) by 11.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,819 shares of the software maker’s stock after selling 362 shares during the period. Fulton Bank N.A.’s holdings in Paycom Software were worth $578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sylebra Capital LLC grew its holdings in Paycom Software by 0.3% in the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock worth $326,888,000 after purchasing an additional 5,000 shares during the last quarter. Geode Capital Management LLC grew its stake in Paycom Software by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock worth $237,015,000 after buying an additional 45,404 shares during the last quarter. FMR LLC increased its position in Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after buying an additional 357,723 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Paycom Software by 1.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock valued at $104,524,000 after buying an additional 6,488 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after acquiring an additional 529,591 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Down 1.2 %

Paycom Software stock opened at $199.58 on Friday. The business’s 50-day moving average price is $220.99 and its 200 day moving average price is $181.66. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 3.12 and a beta of 1.14. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.75%. Paycom Software’s payout ratio is 18.05%.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total transaction of $446,725.50. Following the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 27,300 shares of company stock valued at $5,172,921 in the last three months. 12.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on PAYC. Mizuho upped their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Barclays raised their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Citigroup boosted their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Piper Sandler raised their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $202.56.

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.