Bank of Montreal Can Sells 31,880 Shares of Paycom Software, Inc. (NYSE:PAYC)

Bank of Montreal Can reduced its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 18.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,380 shares of the software maker's stock after selling 31,880 shares during the period. Bank of Montreal Can owned approximately 0.24% of Paycom Software worth $28,774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PAYC. JPMorgan Chase & Co. raised its stake in Paycom Software by 14.5% in the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker's stock valued at $54,305,000 after purchasing an additional 41,187 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Paycom Software in the fourth quarter valued at approximately $7,142,000. Nordea Investment Management AB increased its position in shares of Paycom Software by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker's stock worth $41,952,000 after buying an additional 6,916 shares during the period. Glenview Trust co raised its position in shares of Paycom Software by 27.1% in the 4th quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock worth $2,520,000 after acquiring an additional 2,625 shares in the last quarter. Finally, Friedenthal Financial bought a new position in shares of Paycom Software during the 4th quarter worth approximately $776,000. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Trading Up 0.6 %

Shares of NYSE:PAYC traded up $1.21 during midday trading on Tuesday, reaching $219.48. The company had a trading volume of 187,310 shares, compared to its average volume of 720,248. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The company's 50 day moving average price is $212.94 and its 200 day moving average price is $207.28. The stock has a market cap of $12.70 billion, a P/E ratio of 24.67, a P/E/G ratio of 2.40 and a beta of 0.97.

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Paycom Software (NYSE:PAYC - Get Free Report) last released its earnings results 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%. Research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software's dividend payout ratio is presently 16.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PAYC shares. 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. StockNews.com downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. KeyCorp raised Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price target for the company in a research report on Monday, March 10th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a report on Thursday, February 13th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Paycom Software has a consensus rating of "Hold" and an average target price of $212.80.

Insider Transactions at Paycom Software

In other news, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction 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 transaction, the insider now owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Randall Peck sold 3,600 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the transaction, the chief operating officer now owns 50,665 shares in the company, valued at $10,750,606.35. This represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,100 shares of company stock valued at $1,476,024. 14.50% of the stock is currently owned by corporate insiders.

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.