Huntington National Bank Has $113,000 Holdings in Paycom Software, Inc. (NYSE:PAYC)

Huntington National Bank raised its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 46.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551 shares of the software maker’s stock after purchasing an additional 175 shares during the period. Huntington National Bank’s holdings in Paycom Software were worth $113,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in Paycom Software during the fourth quarter valued at approximately $30,000. IFP Advisors Inc increased its stake in shares of Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after purchasing an additional 178 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after purchasing an additional 88 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Paycom Software during the 3rd quarter valued at $79,000. Finally, Private Trust Co. NA lifted its stake in shares of Paycom Software by 9.3% in the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock valued at $118,000 after purchasing an additional 49 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PAYC has been the topic of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. TD Cowen increased their price objective on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. 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. Stifel Nicolaus decreased their target price on Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Finally, StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $212.80.

Paycom Software Stock Down 7.1 %

Shares of PAYC stock opened at $198.22 on Monday. The stock has a 50 day moving average of $212.92 and a 200-day moving average of $205.42. The firm has a market cap of $11.35 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. As a group, equities analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Insider Activity at Paycom Software

In related news, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the transaction, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the sale, the director now directly 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. Insiders have sold 7,100 shares of company stock worth $1,476,024 over the last three months. Company insiders own 12.60% of the company’s stock.

About Paycom Software

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.