Atria Investments Inc grew its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 36.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,327 shares of the software maker's stock after purchasing an additional 4,601 shares during the period. Atria Investments Inc's holdings in Paycom Software were worth $2,886,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Sylebra Capital LLC acquired a new stake in shares of Paycom Software during the 1st quarter valued at about $253,196,000. Federated Hermes Inc. raised its stake in Paycom Software by 1,011.2% during the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker's stock worth $83,244,000 after purchasing an additional 529,591 shares during the period. International Assets Investment Management LLC lifted its holdings in Paycom Software by 9,997.5% in the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker's stock valued at $46,859,000 after acquiring an additional 278,529 shares during the last quarter. Confluence Investment Management LLC raised its position in Paycom Software by 147.3% in the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker's stock valued at $62,943,000 after purchasing an additional 225,081 shares during the period. Finally, Raymond James & Associates lifted its stake in shares of Paycom Software by 769.2% in the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker's stock valued at $28,803,000 after purchasing an additional 178,198 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Paycom Software
In other news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $162.27, for a total value of $316,426.50. Following the completion of the sale, the chief executive officer now owns 2,961,308 shares of the company's stock, valued at $480,531,449.16. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 60,450 shares of company stock valued at $10,672,818. Corporate insiders own 14.50% of the company's stock.
Wall Street Analyst Weigh In
PAYC has been the subject of several research analyst reports. Barclays increased their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Piper Sandler increased 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. Jefferies Financial Group lifted their target price on Paycom Software from $170.00 to $175.00 and gave the stock a "hold" rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, August 1st. Finally, BMO Capital Markets raised their price objective on Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a research note on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $193.67.
Check Out Our Latest Research Report on PAYC
Paycom Software Price Performance
Shares of NYSE PAYC traded down $3.18 during midday trading on Thursday, hitting $224.62. 504,516 shares of the company's stock were exchanged, compared to its average volume of 813,906. The firm has a market cap of $12.95 billion, a P/E ratio of 27.10, a PEG ratio of 3.06 and a beta of 1.14. The stock's 50 day moving average price is $177.57 and its 200-day moving average price is $165.32. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $233.69.
Paycom Software Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Monday, November 25th. Paycom Software's dividend payout ratio (DPR) is presently 18.05%.
Paycom Software Company 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.
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