Trust Co. of Vermont Raises Position in Paycom Software, Inc. (NYSE:PAYC)

Trust Co. of Vermont increased its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 50.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,275 shares of the software maker’s stock after purchasing an additional 430 shares during the quarter. Trust Co. of Vermont’s holdings in Paycom Software were worth $261,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PAYC. Dimensional Fund Advisors LP increased its position in Paycom Software by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 262,803 shares of the software maker’s stock valued at $37,591,000 after acquiring an additional 10,204 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in Paycom Software during the 2nd quarter valued at about $234,000. XTX Topco Ltd grew its holdings in Paycom Software by 111.2% during the 2nd quarter. XTX Topco Ltd now owns 4,070 shares of the software maker’s stock valued at $582,000 after purchasing an additional 2,143 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Paycom Software by 15.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,907 shares of the software maker’s stock worth $702,000 after purchasing an additional 643 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in Paycom Software by 77.1% in the second quarter. Canada Pension Plan Investment Board now owns 162,110 shares of the software maker’s stock worth $23,188,000 after purchasing an additional 70,591 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $164.97, for a total transaction of $321,691.50. Following the completion of the sale, the chief executive officer now owns 2,756,760 shares of the company’s stock, valued at $454,782,697.20. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 19,500 shares of company stock valued at $3,882,567 over the last quarter. 12.60% of the stock is owned by corporate insiders.

Paycom Software Stock Performance

NYSE PAYC opened at $208.51 on Monday. The firm’s 50 day moving average price is $218.99 and its 200-day moving average price is $184.83. The company has a market cap of $12.02 billion, a PE ratio of 25.09, a P/E/G ratio of 2.78 and a beta of 1.14. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Citigroup reduced their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday. Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays lifted their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Twelve analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $199.75.

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.