Trustmark National Bank Trust Department Takes Position in Paycom Software, Inc. (NYSE:PAYC)

Trustmark National Bank Trust Department bought a new position in Paycom Software, Inc. (NYSE:PAYC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,068 shares of the software maker’s stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc grew its position in shares of Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock worth $26,000 after buying an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Paycom Software in the fourth quarter worth $30,000. IFP Advisors Inc boosted its holdings in Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after acquiring an additional 178 shares in the last quarter. Blue Trust Inc. increased its position in Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock valued at $72,000 after purchasing an additional 88 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Paycom Software in the 3rd quarter worth $79,000. 87.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PAYC shares. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. increased their target price on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 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 note on Monday, March 10th. Barclays reduced their price target on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus lowered their price objective 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. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $212.80.

Paycom Software Stock Performance

NYSE:PAYC opened at $218.44 on Tuesday. The firm has a market cap of $12.64 billion, a P/E ratio of 24.54, a P/E/G ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The firm has a 50-day simple moving average of $212.94 and a two-hundred day simple moving average of $207.28.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share 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%. On average, equities research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software’s payout ratio is currently 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 that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the sale, the chief operating officer now 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction that occurred on Monday, February 24th. The stock was 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 of the company’s stock, valued at approximately $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 valued at $1,476,024 over the last ninety days. Insiders own 14.50% of the company’s stock.

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.