Zurcher Kantonalbank Zurich Cantonalbank Sells 176 Shares of Paycom Software, Inc. (NYSE:PAYC)

Posted by Defense World Staff on Aug 14th, 2023

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Paycom Software, Inc. (NYSE:PAYC – Free Report) by 2.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,837 shares of the software maker’s stock after selling 176 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Paycom Software were worth $2,383,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PAYC. Compagnie Lombard Odier SCmA bought a new stake in Paycom Software in the 4th quarter worth about $26,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Paycom Software during the 4th quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in shares of Paycom Software during the 1st quarter valued at approximately $26,000. HHM Wealth Advisors LLC grew its position in shares of Paycom Software by 350.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 90 shares of the software maker’s stock valued at $27,000 after acquiring an additional 70 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Paycom Software by 466.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 102 shares of the software maker’s stock valued at $31,000 after acquiring an additional 84 shares during the period. 74.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of research reports. Stifel Nicolaus increased their target price on shares of Paycom Software from $380.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Robert W. Baird reduced their target price on shares of Paycom Software from $443.00 to $427.00 and set an “outperform” rating for the company in a research report on Wednesday, August 2nd. BMO Capital Markets increased their target price on shares of Paycom Software from $340.00 to $356.00 and gave the company a “market perform” rating in a research report on Wednesday, August 2nd. KeyCorp dropped their price target on shares of Paycom Software from $432.00 to $405.00 in a research note on Wednesday, May 3rd. Finally, William Blair began coverage on shares of Paycom Software in a research note on Wednesday, June 28th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $384.53.

Read Our Latest Report on PAYC

Insider Activity at Paycom Software

In related news, EVP Christopher Gene Thomas sold 320 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $290.05, for a total transaction of $92,816.00. Following the transaction, the executive vice president now owns 26,154 shares of the company’s stock, valued at approximately $7,585,967.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Paycom Software news, EVP Christopher Gene Thomas sold 320 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $290.05, for a total value of $92,816.00. Following the sale, the executive vice president now owns 26,154 shares of the company’s stock, valued at approximately $7,585,967.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jason D. Clark sold 430 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $278.99, for a total transaction of $119,965.70. Following the completion of the sale, the director now directly owns 5,100 shares in the company, valued at approximately $1,422,849. The disclosure for this sale can be found here. 14.50% of the stock is owned by insiders.

Paycom Software Stock Performance

Paycom Software stock opened at $292.00 on Monday. The firm’s fifty day moving average price is $325.19 and its 200-day moving average price is $304.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $17.66 billion, a P/E ratio of 53.58, a price-to-earnings-growth ratio of 2.02 and a beta of 1.44. Paycom Software, Inc. has a fifty-two week low of $262.11 and a fifty-two week high of $402.78.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 28th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, August 25th. Paycom Software’s dividend payout ratio is currently 27.52%.

Paycom Software Profile

(Free Report)

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.