Mitsubishi UFJ Trust & Banking Corp Decreases Stake in Paycom Software, Inc. (NYSE:PAYC)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 10.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,792 shares of the software maker’s stock after selling 12,764 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.19% of Paycom Software worth $22,914,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sylebra Capital LLC grew its holdings in shares of Paycom Software by 0.3% during the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock valued at $326,888,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC grew its stake in Paycom Software by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock valued at $237,015,000 after purchasing an additional 45,404 shares during the last quarter. FMR LLC increased its holdings in shares of Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after purchasing an additional 357,723 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Paycom Software by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker’s stock worth $102,090,000 after purchasing an additional 11,611 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its position in Paycom Software by 3.3% in the fourth quarter. Boston Trust Walden Corp now owns 359,695 shares of the software maker’s stock valued at $73,727,000 after buying an additional 11,595 shares during the last quarter. Institutional investors and hedge funds 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 firm’s 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 approximately $5,775,620.33. This trade represents a 9.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, 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 over the last quarter. 14.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on PAYC. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Piper Sandler upped their price target on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Citigroup reduced their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Mizuho upped their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus reduced their price target on Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Paycom Software presently has an average rating of “Hold” and an average target price of $212.80.

Paycom Software Trading Up 1.3 %

Shares of PAYC opened at $225.55 on Friday. The firm has a market cap of $12.92 billion, a P/E ratio of 25.34, a PEG ratio of 2.40 and a beta of 1.14. The stock’s 50 day moving average is $212.08 and its two-hundred day moving average is $202.97. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.67%. The ex-dividend date was Monday, March 10th. Paycom Software’s payout ratio is 16.85%.

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.