Mitsubishi UFJ Trust & Banking Corp Sells 12,764 Shares of Paycom Software, Inc. (NYSE:PAYC)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 111,792 shares of the software maker's stock after selling 12,764 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.19% of Paycom Software worth $22,914,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Paycom Software during the 3rd quarter valued at $28,000. Pin Oak Investment Advisors Inc. raised its stake in shares of Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker's stock valued at $30,000 after acquiring an additional 77 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Paycom Software by 635.7% during the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock worth $43,000 after purchasing an additional 178 shares during the period. Blue Trust Inc. grew its stake in shares of Paycom Software by 33.3% in the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock worth $72,000 after purchasing an additional 88 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Paycom Software in the third quarter worth about $79,000. Institutional investors own 87.77% of the company's stock.

Paycom Software Stock Up 1.1 %

Shares of PAYC stock traded up $2.49 during trading hours on Tuesday, hitting $220.97. 670,895 shares of the company's stock traded hands, compared to its average volume of 723,320. The stock's fifty day simple moving average is $212.72 and its two-hundred day simple moving average is $204.57. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 2.40 and a beta of 1.14.

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Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, equities 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 disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software's dividend payout ratio (DPR) is 16.85%.

Analysts Set New Price Targets

Several research firms have weighed in on PAYC. StockNews.com cut Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. TD Cowen raised their price target on Paycom Software from $193.00 to $248.00 and gave the stock a "hold" rating in a research note on Monday, December 9th. Mizuho lifted their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Piper Sandler raised their target price 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. Finally, Stifel Nicolaus reduced their price target on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $212.80.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software 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 completion of the sale, the insider now directly 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,100 shares of company stock worth $1,476,024. 14.50% of the stock is owned by corporate insiders.

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.