Scotia Capital Inc. Purchases Shares of 7,311 Paycom Software, Inc. (NYSE:PAYC)

Scotia Capital Inc. acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,311 shares of the software maker’s stock, valued at approximately $1,499,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Trust Co. NA boosted its stake in Paycom Software by 9.3% in the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock worth $118,000 after purchasing an additional 49 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Paycom Software by 1.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock worth $602,000 after buying an additional 51 shares during the period. Michael S. Ryan Inc. grew its holdings in shares of Paycom Software by 2.5% during the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock worth $573,000 after buying an additional 68 shares in the last quarter. Valley National Advisers Inc. grew its holdings in shares of Paycom Software by 0.7% during the fourth quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker’s stock worth $2,192,000 after buying an additional 72 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in Paycom Software by 0.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 20,240 shares of the software maker’s stock valued at $4,184,000 after buying an additional 79 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Up 2.6 %

PAYC opened at $215.65 on Monday. The stock has a market cap of $12.48 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The business has a 50 day moving average of $212.70 and a 200-day moving average of $206.93.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. As a group, analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.375 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.70%. Paycom Software’s dividend payout ratio is currently 16.85%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the transaction, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at $10,750,606.35. This represents a 6.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the transaction, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. The trade was a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock valued at $1,476,024 in the last three months. 14.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PAYC shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. Stifel Nicolaus decreased their target price on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Piper Sandler boosted their price target on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. upped 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.