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

CIBC Private Wealth Group LLC reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,742 shares of the software maker’s stock after selling 261 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Paycom Software were worth $3,139,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PAYC. California Public Employees Retirement System grew its stake in Paycom Software by 20.0% during the fourth quarter. California Public Employees Retirement System now owns 84,310 shares of the software maker’s stock worth $17,281,000 after buying an additional 14,055 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Paycom Software by 1,153.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker’s stock worth $82,375,000 after acquiring an additional 369,825 shares in the last quarter. Allstate Corp acquired a new stake in shares of Paycom Software during the 4th quarter worth approximately $319,000. DnB Asset Management AS increased its stake in Paycom Software by 12.5% in the fourth quarter. DnB Asset Management AS now owns 10,839 shares of the software maker’s stock valued at $2,222,000 after acquiring an additional 1,208 shares during the last quarter. Finally, Level Four Advisory Services LLC raised its position in Paycom Software by 6.6% during the fourth quarter. Level Four Advisory Services LLC now owns 12,821 shares of the software maker’s stock valued at $2,628,000 after purchasing an additional 792 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Performance

PAYC stock opened at $218.58 on Thursday. The company has a market capitalization of $12.52 billion, a P/E ratio of 24.56, a PEG ratio of 2.40 and a beta of 0.97. The company has a fifty day moving average price of $212.94 and a 200-day moving average price of $204.67. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

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 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, sell-side analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

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

Insiders Place Their Bets

In related news, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the completion of the sale, the chief operating officer now owns 50,665 shares of the company’s stock, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction that occurred 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 completion of the sale, the insider now owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. The trade was a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,100 shares of company stock worth $1,476,024. 12.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PAYC has been the topic of several recent analyst reports. KeyCorp upgraded Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price target on the stock in a research note on Monday, March 10th. Citigroup decreased their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. TD Cowen raised their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Finally, Piper Sandler upped their price objective 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. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.