CIBC Private Wealth Group LLC Has $3.14 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

CIBC Private Wealth Group LLC trimmed its position in Paycom Software, Inc. (NYSE:PAYC) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,742 shares of the software maker’s stock after selling 261 shares during the period. CIBC Private Wealth Group LLC’s holdings in Paycom Software were worth $3,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PAYC. Murphy & Mullick Capital Management Corp acquired a new position in shares of Paycom Software during the fourth quarter valued at about $30,000. IFP Advisors Inc lifted its position in Paycom Software by 635.7% in 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 in the last quarter. Blue Trust Inc. boosted its stake in Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock valued at $72,000 after purchasing an additional 88 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Paycom Software during the 3rd quarter worth approximately $79,000. Finally, Private Trust Co. NA raised its stake in shares of Paycom Software by 9.3% in the fourth 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 last quarter. Institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now directly owns 28,733 shares in the company, valued at $5,775,620.33. This represents a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the business’s stock in a transaction on 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 $1,686,840.60. This trade represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock valued at $1,476,024 in the last quarter. 12.60% of the stock is currently owned by corporate insiders.

Paycom Software Stock Down 1.1 %

Shares of NYSE:PAYC opened at $218.58 on Thursday. The company has a 50-day moving average price of $212.94 and a two-hundred day moving average price of $204.67. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The firm has a market capitalization of $12.52 billion, a PE ratio of 24.56, a P/E/G ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.375 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.69%. Paycom Software’s dividend payout ratio is currently 16.85%.

Analysts Set New Price Targets

Several research analysts recently weighed in on PAYC shares. Mizuho boosted their price target on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Citigroup decreased their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. TD Cowen lifted their price target on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Piper Sandler upped their price objective on Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, KeyCorp upgraded Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 target price on the stock in a research note on Monday, March 10th. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Paycom Software currently has a consensus rating of “Hold” and an average price target of $212.80.

About Paycom Software

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.