Paycom Software, Inc. $PAYC Shares Acquired by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 4.7% in the second quarter, Holdings Channel reports. The fund owned 25,864 shares of the software maker’s stock after purchasing an additional 1,168 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Paycom Software were worth $5,985,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Baillie Gifford & Co. increased its stake in shares of Paycom Software by 1,918.4% in the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock worth $346,180,000 after acquiring an additional 1,505,990 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Paycom Software by 5.0% during the 1st quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock worth $269,398,000 after purchasing an additional 58,176 shares during the period. Northern Trust Corp grew its holdings in shares of Paycom Software by 2.3% during the 1st quarter. Northern Trust Corp now owns 740,385 shares of the software maker’s stock worth $161,759,000 after purchasing an additional 16,369 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Paycom Software by 12.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 633,626 shares of the software maker’s stock worth $138,435,000 after purchasing an additional 69,884 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Paycom Software during the 1st quarter worth $114,440,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PAYC has been the subject of a number of research analyst reports. TD Cowen upgraded Paycom Software from a “hold” rating to a “buy” rating and increased their price target for the stock from $246.00 to $258.00 in a report on Monday, September 22nd. UBS Group lowered their target price on Paycom Software from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Weiss Ratings restated a “hold (c)” rating on shares of Paycom Software in a report on Wednesday, October 8th. KeyCorp raised their target price on Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, Barclays raised their target price on Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Paycom Software presently has an average rating of “Hold” and a consensus target price of $245.62.

Insider Buying and Selling at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.90% of the stock is currently owned by company insiders.

Paycom Software Stock Up 0.4%

NYSE PAYC opened at $201.46 on Tuesday. Paycom Software, Inc. has a fifty-two week low of $162.62 and a fifty-two week high of $267.76. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. The business has a fifty day moving average of $215.88 and a 200-day moving average of $228.43.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The company had revenue of $483.60 million during the quarter, compared to analysts’ expectations of $472.00 million. During the same period in the previous year, the firm posted $1.62 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, August 25th. Paycom Software’s payout ratio is 20.30%.

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.