Grove Bank & Trust Buys 436 Shares of Paycom Software, Inc. (NYSE:PAYC)

Grove Bank & Trust grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 13.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,796 shares of the software maker’s stock after purchasing an additional 436 shares during the quarter. Grove Bank & Trust’s holdings in Paycom Software were worth $632,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PAYC. Ashton Thomas Private Wealth LLC bought a new position in Paycom Software during the 2nd quarter worth $25,000. Mather Group LLC. acquired a new stake in shares of Paycom Software during the 1st quarter worth $26,000. MFA Wealth Advisors LLC bought a new position in shares of Paycom Software in the second quarter worth $26,000. Armstrong Advisory Group Inc. acquired a new position in Paycom Software in the third quarter valued at about $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Paycom Software during the second quarter worth about $27,000. 87.77% of the stock is owned by institutional investors.

Paycom Software Trading Up 1.3 %

Shares of NYSE PAYC opened at $164.68 on Tuesday. The firm’s 50-day moving average price is $163.57 and its 200-day moving average price is $165.53. The firm has a market capitalization of $9.57 billion, a P/E ratio of 20.06, a P/E/G ratio of 2.31 and a beta of 1.17. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $275.67.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.07. The business had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. Equities research analysts forecast that Paycom Software, Inc. will post 6.67 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.91%. Paycom Software’s payout ratio is 18.27%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. TD Cowen raised their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Barclays raised their price objective on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, Citigroup cut their price target on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $180.17.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the transaction, the insider now owns 14,769 shares of the company’s stock, valued at $2,327,889.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $162.17, for a total transaction of $316,231.50. Following the sale, the chief executive officer now directly owns 2,780,160 shares in the company, valued at $450,858,547.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the transaction, the insider now owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,956 shares of company stock valued at $11,342,924 in the last three months. 14.50% of the stock is currently owned by 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.