PNC Financial Services Group Inc. Trims Stock Position in Paycom Software, Inc. (NYSE:PAYC)

PNC Financial Services Group Inc. lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 9.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,777 shares of the software maker’s stock after selling 470 shares during the period. PNC Financial Services Group Inc.’s holdings in Paycom Software were worth $988,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PAYC. V Square Quantitative Management LLC purchased a new position in shares of Paycom Software in the 3rd quarter valued at about $162,000. Hsbc Holdings PLC increased its stake in shares of Paycom Software by 37.2% in the 3rd quarter. Hsbc Holdings PLC now owns 67,580 shares of the software maker’s stock valued at $17,572,000 after purchasing an additional 18,335 shares in the last quarter. LPL Financial LLC increased its stake in Paycom Software by 27.7% during the 3rd quarter. LPL Financial LLC now owns 29,542 shares of the software maker’s stock worth $7,659,000 after buying an additional 6,405 shares in the last quarter. Mariner LLC increased its stake in Paycom Software by 8.6% during the 3rd quarter. Mariner LLC now owns 4,945 shares of the software maker’s stock worth $1,282,000 after buying an additional 393 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Paycom Software by 3.8% during the 3rd quarter. Northern Trust Corp now owns 538,282 shares of the software maker’s stock worth $139,560,000 after buying an additional 19,900 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PAYC. BMO Capital Markets cut their price objective on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. TD Cowen cut their price objective on Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a research note on Thursday. Citigroup cut their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Barclays lowered their target price on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, Mizuho lowered their target price on Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $240.94.

Paycom Software Stock Up 1.2 %

NYSE:PAYC opened at $147.40 on Monday. The stock’s fifty day moving average is $167.91 and its two-hundred day moving average is $185.05. Paycom Software, Inc. has a 52 week low of $140.12 and a 52 week high of $374.04. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 2.25 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The company had revenue of $499.88 million for the quarter, compared to analysts’ expectations of $495.89 million. On average, sell-side analysts expect that Paycom Software, Inc. will post 6.26 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, May 24th. Paycom Software’s dividend payout ratio is currently 18.27%.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the sale, the chief executive officer now owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the sale, the chief executive officer now owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Amy Vickroy sold 1,381 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total value of $198,021.59. Following the sale, the executive vice president now directly owns 19,962 shares in the company, valued at approximately $2,862,351.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,787 shares of company stock valued at $3,430,426. 14.50% of the stock is currently owned by company insiders.

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.