Commerce Bank Decreases Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Commerce Bank lowered its position in Paycom Software, Inc. (NYSE:PAYC) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,380 shares of the software maker’s stock after selling 45 shares during the period. Commerce Bank’s holdings in Paycom Software were worth $563,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PAYC. Sylebra Capital LLC increased its position in Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after buying an additional 685,190 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Paycom Software by 9.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock valued at $152,925,000 after purchasing an additional 92,049 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Paycom Software by 1,011.2% in the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after purchasing an additional 529,591 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Paycom Software by 6.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker’s stock worth $65,122,000 after purchasing an additional 26,934 shares in the last quarter. Finally, Confluence Investment Management LLC grew its position in Paycom Software by 147.3% during the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after purchasing an additional 225,081 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $162.00, for a total value of $315,900.00. Following the sale, the chief executive officer now directly owns 2,941,808 shares of the company’s stock, valued at approximately $476,572,896. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 54,600 shares of company stock worth $9,726,717. Company insiders own 14.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Jefferies Financial Group raised their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. TD Cowen raised their target price on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Citigroup boosted their price target on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets raised their price objective on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Twelve equities 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 presently has an average rating of “Hold” and an average price target of $193.67.

Paycom Software Trading Up 0.7 %

Paycom Software stock opened at $236.20 on Wednesday. The firm has a market cap of $13.62 billion, a PE ratio of 28.42, a P/E/G ratio of 3.07 and a beta of 1.14. The stock’s 50 day simple moving average is $188.41 and its two-hundred day simple moving average is $168.26. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $236.75.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. Paycom Software’s payout ratio is 18.05%.

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.