Fulton Bank N.A. Boosts Stock Position in Paycom Software, Inc. (NYSE:PAYC)

by · The Cerbat Gem

Fulton Bank N.A. boosted its position in Paycom Software, Inc. (NYSE:PAYC – Free Report) by 2.9% in the 1st quarter, HoldingsChannel reports. The firm owned 2,900 shares of the software maker’s stock after purchasing an additional 81 shares during the period. Fulton Bank N.A.’s holdings in Paycom Software were worth $634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. grew its holdings in shares of Paycom Software by 164,900.0% during the first quarter. NBC Securities Inc. now owns 1,650 shares of the software maker’s stock worth $360,000 after buying an additional 1,649 shares in the last quarter. Czech National Bank boosted its position in Paycom Software by 2.6% during the first quarter. Czech National Bank now owns 10,815 shares of the software maker’s stock worth $2,363,000 after acquiring an additional 273 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its position in Paycom Software by 27.7% during the first quarter. Legacy Wealth Asset Management LLC now owns 3,841 shares of the software maker’s stock worth $839,000 after acquiring an additional 833 shares during the last quarter. Rhumbline Advisers grew its stake in Paycom Software by 11.9% in the 1st quarter. Rhumbline Advisers now owns 102,936 shares of the software maker’s stock worth $22,489,000 after acquiring an additional 10,908 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Paycom Software by 33,661.7% in the 1st quarter. GAMMA Investing LLC now owns 197,506 shares of the software maker’s stock valued at $43,151,000 after acquiring an additional 196,921 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Price Performance

NYSE PAYC opened at $265.45 on Thursday. The business’s 50-day simple moving average is $233.78 and its 200-day simple moving average is $221.54. The firm has a market capitalization of $15.36 billion, a P/E ratio of 29.83, a P/E/G ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $265.61.

Paycom Software (NYSE:PAYC – Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, beating the consensus estimate of $2.62 by $0.18. The company had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $2.59 earnings per share. On average, equities research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.57%. The ex-dividend date is Tuesday, May 27th. Paycom Software’s dividend payout ratio (DPR) is 21.40%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PAYC. BMO Capital Markets raised their price objective on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their price target on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Wall Street Zen cut Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. KeyCorp increased their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus boosted their target price on shares of Paycom Software from $187.00 to $215.00 and gave the company a “hold” rating in a report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Paycom Software has an average rating of “Hold” and an average target price of $226.90.

Check Out Our Latest Research Report on PAYC

Insider Transactions at Paycom Software

In other news, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the transaction, the insider now owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. This trade represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the transaction, the chief operating officer now owns 49,394 shares of the company’s stock, valued at $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,316 shares of company stock valued at $36,812,058. 10.90% of the stock is currently owned by insiders.

Paycom Software Company Profile

(Free Report)

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.

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