Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 14.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,929 shares of the software maker’s stock after selling 8,948 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.10% of Paycom Software worth $11,259,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group bought a new position in Paycom Software during the 3rd quarter valued at $28,000. Pin Oak Investment Advisors Inc. raised its stake in shares of Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after purchasing an additional 77 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after purchasing an additional 189 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Paycom Software by 635.7% during the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after purchasing an additional 178 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in Paycom Software by 33.3% in the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity

In other Paycom Software news, Director J C. Watts, Jr. sold 500 shares of the 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 completion of the transaction, the director now directly owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the transaction, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 14.50% of the company’s stock.

Analyst Ratings Changes

PAYC has been the topic of several research reports. Barclays cut their price objective on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Piper Sandler upped their price target on Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Stifel Nicolaus decreased their price objective on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a report on Thursday, February 13th. TD Cowen increased their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Finally, KeyCorp upgraded shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price target on the stock in a research report on Monday. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $212.80.

Paycom Software Stock Down 0.1 %

Shares of NYSE:PAYC opened at $206.47 on Thursday. The company’s 50-day moving average price is $208.92 and its 200 day moving average price is $198.95. The company has a market cap of $11.82 billion, a PE ratio of 23.20, a P/E/G ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.375 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. Paycom Software’s payout ratio is 16.85%.

About Paycom Software

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.