Paycom Software, Inc. (NYSE:PAYC) Position Raised by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lifted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 28.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,789 shares of the software maker’s stock after acquiring an additional 394 shares during the period. Citizens Financial Group Inc. RI’s holdings in Paycom Software were worth $367,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Simplicity Wealth LLC bought a new position in Paycom Software in the 4th quarter worth approximately $234,000. Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in Paycom Software by 2.7% during the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 25,628 shares of the software maker’s stock worth $5,253,000 after acquiring an additional 681 shares during the period. Amundi grew its stake in shares of Paycom Software by 4.9% in the fourth quarter. Amundi now owns 83,790 shares of the software maker’s stock worth $16,709,000 after purchasing an additional 3,887 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Paycom Software by 4.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,961 shares of the software maker’s stock valued at $1,222,000 after purchasing an additional 270 shares during the period. Finally, Candriam S.C.A. raised its stake in shares of Paycom Software by 126.6% during the fourth quarter. Candriam S.C.A. now owns 56,995 shares of the software maker’s stock valued at $11,682,000 after purchasing an additional 31,838 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Mizuho boosted their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. KeyCorp upgraded Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 target price for the company in a research report on Monday. TD Cowen increased their price target on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Finally, Piper Sandler lifted their price target on Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $212.80.

Paycom Software Stock Performance

NYSE PAYC opened at $202.83 on Friday. The firm’s 50 day moving average price is $208.95 and its two-hundred day moving average price is $198.97. The stock has a market cap of $11.61 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74.

Paycom Software (NYSE:PAYC) last issued its quarterly 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 return on equity of 33.53% and a net margin of 26.66%. On average, 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 will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is 16.85%.

Insider Buying and Selling

In related 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the transaction, the director now owns 7,730 shares in the company, valued at $1,686,840.60. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. 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.