Heritage Trust Co Buys New Position in Paycom Software, Inc. (NYSE:PAYC)

Heritage Trust Co purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25,433 shares of the software maker’s stock, valued at approximately $5,213,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new position in Paycom Software during the fourth quarter worth about $30,000. IFP Advisors Inc increased its stake in shares of Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after acquiring an additional 178 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after acquiring an additional 88 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Paycom Software in the third quarter worth approximately $79,000. Finally, Huntington National Bank grew its holdings in Paycom Software by 46.5% in the fourth quarter. Huntington National Bank now owns 551 shares of the software maker’s stock valued at $113,000 after purchasing an additional 175 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Price Performance

Paycom Software stock opened at $210.31 on Friday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The company has a market capitalization of $12.04 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. The firm’s fifty day moving average price is $212.49 and its 200 day moving average price is $206.32.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping 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%. Analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Monday, March 10th. Paycom Software’s payout ratio is 16.85%.

Insider Activity

In other news, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now 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 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 3,600 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,100 shares of company stock worth $1,476,024. 14.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Stifel Nicolaus cut their price target on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Citigroup cut their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. boosted their target price on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $212.80.

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.