Cibc World Markets Corp Grows Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Cibc World Markets Corp increased its holdings in Paycom Software, Inc. (NYSE:PAYC) by 15.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,835 shares of the software maker’s stock after acquiring an additional 1,071 shares during the period. Cibc World Markets Corp’s holdings in Paycom Software were worth $1,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Empowered Funds LLC increased its position in shares of Paycom Software by 20.6% during the 3rd quarter. Empowered Funds LLC now owns 2,522 shares of the software maker’s stock worth $420,000 after purchasing an additional 430 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Paycom Software by 71.8% during the third quarter. Thrivent Financial for Lutherans now owns 3,497 shares of the software maker’s stock worth $583,000 after buying an additional 1,462 shares during the period. Prospera Financial Services Inc acquired a new stake in shares of Paycom Software during the third quarter valued at about $282,000. Banque Cantonale Vaudoise raised its stake in shares of Paycom Software by 7.3% in the 3rd quarter. Banque Cantonale Vaudoise now owns 2,909 shares of the software maker’s stock valued at $484,000 after acquiring an additional 197 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings 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 worth $35,000 after acquiring an additional 189 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. KeyCorp raised Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price objective for the company in a research note on Monday, March 10th. Barclays decreased their target price 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Finally, Mizuho boosted their price target on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus price target of $212.80.

Paycom Software Stock Performance

PAYC stock opened at $218.74 on Friday. The company’s 50 day moving average price is $210.52 and its 200 day moving average price is $201.15. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 24.58, a PEG 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 announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Equities analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is 16.85%.

Insiders Place Their Bets

In related news, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the sale, the director now directly owns 7,730 shares in the company, valued at $1,686,840.60. This trade represents a 6.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the transaction, the insider now owns 28,733 shares of the company’s stock, valued at $5,775,620.33. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock valued at $1,476,024 in the last ninety days. Insiders own 14.50% 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.