Toronto Dominion Bank Purchases 569 Shares of Paycom Software, Inc. (NYSE:PAYC)

Toronto Dominion Bank increased its position in Paycom Software, Inc. (NYSE:PAYC) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,825 shares of the software maker’s stock after purchasing an additional 569 shares during the quarter. Toronto Dominion Bank’s holdings in Paycom Software were worth $4,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Paycom Software by 1,549.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,662 shares of the software maker’s stock valued at $3,098,000 after purchasing an additional 20,349 shares during the period. Raymond James & Associates boosted its holdings in Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after buying an additional 178,198 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Paycom Software during the 2nd quarter worth about $824,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Paycom Software during the 2nd quarter worth about $71,000. Finally, Pallas Capital Advisors LLC bought a new position in Paycom Software during the 2nd quarter worth approximately $298,000. 87.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. BMO Capital Markets upped their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Mizuho increased their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday. Piper Sandler boosted their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. TD Cowen increased their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Finally, Citigroup boosted their price target on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $202.56.

Paycom Software Stock Performance

PAYC opened at $234.50 on Monday. The business’s 50-day simple moving average is $205.46 and its 200 day simple moving average is $173.64. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The firm has a market capitalization of $13.52 billion, a PE ratio of 28.22, a PEG ratio of 3.12 and a beta of 1.11.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $170.85, for a total value of $333,157.50. Following the sale, the chief executive officer now directly owns 2,807,010 shares of the company’s stock, valued at approximately $479,577,658.50. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 46,800 shares of company stock valued at $8,439,854. 14.50% of the stock is owned by insiders.

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.