Confluence Investment Management LLC Acquires 225,081 Shares of Paycom Software, Inc. (NYSE:PAYC)

Confluence Investment Management LLC increased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 147.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 377,876 shares of the software maker's stock after acquiring an additional 225,081 shares during the quarter. Confluence Investment Management LLC owned about 0.66% of Paycom Software worth $62,943,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Portside Wealth Group LLC raised its holdings in Paycom Software by 70.7% in the 3rd quarter. Portside Wealth Group LLC now owns 11,527 shares of the software maker's stock valued at $1,920,000 after acquiring an additional 4,773 shares in the last quarter. Keudell Morrison Wealth Management increased its position in shares of Paycom Software by 13.3% in the third quarter. Keudell Morrison Wealth Management now owns 1,939 shares of the software maker's stock worth $323,000 after purchasing an additional 227 shares during the period. Principal Financial Group Inc. raised its stake in Paycom Software by 9.3% in the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock valued at $10,962,000 after purchasing an additional 5,574 shares in the last quarter. Marks Group Wealth Management Inc lifted its position in Paycom Software by 168.3% during the third quarter. Marks Group Wealth Management Inc now owns 35,124 shares of the software maker's stock worth $5,851,000 after purchasing an additional 22,035 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in Paycom Software by 6.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 13,971 shares of the software maker's stock worth $2,327,000 after buying an additional 867 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Performance

Shares of Paycom Software stock traded up $1.58 on Friday, hitting $228.77. The stock had a trading volume of 492,927 shares, compared to its average volume of 756,983. The stock has a 50 day moving average of $173.56 and a 200 day moving average of $164.64. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $233.69. The firm has a market capitalization of $13.19 billion, a P/E ratio of 27.53, a PEG ratio of 3.09 and a beta of 1.14.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, November 25th. Paycom Software's payout ratio is currently 18.05%.

Insider Transactions at Paycom Software

In other news, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the sale, the chief financial officer now owns 294,849 shares of the company's stock, valued at approximately $45,990,547.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Chad R. Richison sold 1,950 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $216.60, for a total value of $422,370.00. Following the sale, the chief executive officer now directly owns 2,743,110 shares of the company's stock, valued at approximately $594,157,626. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the transaction, the chief financial officer now directly owns 294,849 shares of the company's stock, valued at $45,990,547.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,382 shares of company stock worth $11,805,199. Company insiders own 14.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Mizuho boosted their target price on shares of Paycom Software from $170.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday. Barclays upped their target price 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a report on Thursday, August 1st. TD Cowen upped their price objective 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, StockNews.com cut Paycom Software from a "buy" rating to a "hold" rating in a research report on Monday, July 15th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $193.67.

Paycom Software Company 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.