Bridgewater Associates LP Sells 11,673 Shares of Paycom Software, Inc. (NYSE:PAYC)

Bridgewater Associates LP cut its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 71.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,686 shares of the software maker's stock after selling 11,673 shares during the quarter. Bridgewater Associates LP's holdings in Paycom Software were worth $781,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAYC. Sylebra Capital LLC boosted its holdings in Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker's stock worth $279,996,000 after acquiring an additional 685,190 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker's stock valued at $152,925,000 after purchasing an additional 92,049 shares during the last quarter. FMR LLC raised its stake in shares of Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock worth $167,889,000 after purchasing an additional 357,723 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Paycom Software by 1.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker's stock valued at $104,524,000 after buying an additional 6,488 shares during the period. Finally, Federated Hermes Inc. increased its holdings 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 buying an additional 529,591 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $162.00, for a total transaction of $315,900.00. Following the sale, the chief executive officer now directly owns 2,941,808 shares of the company's stock, valued at $476,572,896. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 54,600 shares of company stock valued at $9,726,717 in the last 90 days. Insiders own 12.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PAYC shares. Citigroup upped their price objective on Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Mizuho raised their target price on shares of Paycom Software from $170.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Piper Sandler boosted their target price on Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Barclays lifted 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. Finally, Jefferies Financial Group lifted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a "hold" 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $193.67.

Paycom Software Stock Down 1.1 %

Shares of Paycom Software stock traded down $2.53 on Tuesday, reaching $229.88. The company's stock had a trading volume of 609,131 shares, compared to its average volume of 797,315. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 3.09 and a beta of 1.11. The firm's fifty day simple moving average is $193.36 and its two-hundred day simple moving average is $169.87. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $237.33.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. Paycom Software's dividend payout ratio is currently 18.05%.

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.