Scotia Capital Inc. Takes $1.50 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Scotia Capital Inc. bought a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,311 shares of the software maker's stock, valued at approximately $1,499,000.

Other institutional investors also recently added to or reduced their stakes in the company. APG Asset Management N.V. increased its stake in Paycom Software by 523.9% in the 4th quarter. APG Asset Management N.V. now owns 27,500 shares of the software maker's stock valued at $5,443,000 after buying an additional 23,092 shares during the period. Advisory Services Network LLC raised its holdings in Paycom Software by 41.2% during the fourth quarter. Advisory Services Network LLC now owns 15,105 shares of the software maker's stock worth $3,096,000 after purchasing an additional 4,408 shares in the last quarter. Bank of Nova Scotia boosted its holdings in Paycom Software by 293.7% in the 4th quarter. Bank of Nova Scotia now owns 23,401 shares of the software maker's stock valued at $4,796,000 after purchasing an additional 17,457 shares in the last quarter. FMR LLC raised its stake in shares of Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock worth $491,201,000 after buying an additional 1,388,533 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co boosted its stake in shares of Paycom Software by 30.0% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 32,500 shares of the software maker's stock valued at $6,662,000 after buying an additional 7,500 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Activity at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the firm's stock in a transaction dated 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 directly owns 28,733 shares of the company's stock, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Randall Peck sold 3,600 shares of the business'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 transaction, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,100 shares of company stock worth $1,476,024. Company insiders own 10.90% of the company's stock.

Paycom Software Price Performance

NYSE:PAYC traded up $1.39 on Friday, reaching $216.92. The stock had a trading volume of 403,689 shares, compared to its average volume of 718,354. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The firm's fifty day moving average is $213.80 and its two-hundred day moving average is $207.77.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) 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%. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced 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 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 (DPR) is presently 16.85%.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of Paycom Software from $229.00 to $221.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Stifel Nicolaus lowered their price target on Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock 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 objective for the company in a report on Monday, March 10th. JPMorgan Chase & Co. raised their price target on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Citigroup decreased their price objective on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Paycom Software has a consensus rating of "Hold" and an average price target 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.