Benjamin Edwards Inc. raised its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 805.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,442 shares of the software maker's stock after purchasing an additional 4,841 shares during the quarter. Benjamin Edwards Inc.'s holdings in Paycom Software were worth $906,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Private Trust Co. NA raised its holdings in Paycom Software by 11.2% in the 3rd quarter. Private Trust Co. NA now owns 526 shares of the software maker's stock worth $88,000 after purchasing an additional 53 shares during the period. Wrapmanager Inc. lifted its position in shares of Paycom Software by 2.6% during the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker's stock valued at $362,000 after buying an additional 56 shares in the last quarter. Andina Capital Management LLC grew its stake in shares of Paycom Software by 4.0% during the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker's stock valued at $275,000 after acquiring an additional 63 shares during the period. Davis Investment Partners LLC raised its stake in Paycom Software by 1.0% during the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker's stock worth $1,067,000 after acquiring an additional 64 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Paycom Software by 26.7% during the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker's stock valued at $54,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.
Insider Buying and Selling at Paycom Software
In other news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $167.31, for a total value of $326,254.50. Following the completion of the sale, the chief executive officer now owns 2,935,958 shares in the company, valued at approximately $491,215,132.98. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 52,650 shares of company stock worth $9,414,035 over the last ninety days. Company insiders own 14.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price target on Paycom Software from $170.00 to $175.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. Mizuho boosted their price objective on Paycom Software from $170.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. TD Cowen increased their target price on Paycom Software from $171.00 to $188.00 and gave the stock a "hold" rating in a research report on Monday, September 23rd. Finally, Barclays upped their price target on Paycom Software from $172.00 to $181.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $193.67.
View Our Latest Analysis on Paycom Software
Paycom Software Trading Up 2.0 %
PAYC traded up $4.67 during trading hours on Friday, hitting $236.48. The company's stock had a trading volume of 488,075 shares, compared to its average volume of 472,948. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $238.18. The business's 50-day moving average price is $198.43 and its 200-day moving average price is $171.39. The stock has a market cap of $13.64 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 3.09 and a beta of 1.11.
Paycom Software Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.63%. Paycom Software's payout ratio is currently 18.05%.
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.
Further Reading
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