Equitable Trust Co. Has $952,000 Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Equitable Trust Co. boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 6.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,644 shares of the software maker’s stock after buying an additional 263 shares during the period. Equitable Trust Co.’s holdings in Paycom Software were worth $952,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PAYC. Sylebra Capital LLC grew its position in shares of Paycom Software by 0.3% during the 3rd quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock worth $326,888,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 worth $237,015,000 after purchasing an additional 45,404 shares in the last quarter. FMR LLC grew its position in shares of Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Paycom Software by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock worth $104,524,000 after purchasing an additional 6,488 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Paycom Software by 45.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock worth $81,030,000 after purchasing an additional 151,807 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of analyst reports. TD Cowen increased their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Piper Sandler increased their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays reduced 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 report on Thursday, January 23rd. Citigroup reduced their price target 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. Finally, Mizuho increased their price target on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Paycom Software has an average rating of “Hold” and a consensus price target of $204.75.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total transaction of $446,725.50. Following the completion of the transaction, the chief executive officer now owns 2,731,410 shares of the company’s stock, valued at approximately $625,738,716.90. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.50% of the stock is owned by insiders.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $204.85 on Tuesday. The company has a market cap of $11.81 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 2.81 and a beta of 1.15. The firm has a 50 day simple moving average of $212.80 and a 200 day simple moving average of $190.69. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.73%. Paycom Software’s payout ratio is 18.05%.

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.