Edgestream Partners L.P. Has $1.03 Million Holdings in Paycom Software, Inc. (NYSE:PAYC)

Edgestream Partners L.P. lowered its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 57.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,181 shares of the software maker's stock after selling 8,218 shares during the period. Edgestream Partners L.P.'s holdings in Paycom Software were worth $1,030,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paycom Software in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in Paycom Software in the 2nd quarter worth approximately $26,000. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the 3rd quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Paycom Software in the second quarter valued at about $27,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Paycom Software during the 3rd quarter worth approximately $28,000. Institutional investors own 87.77% of the company's stock.

Paycom Software Price Performance

NYSE:PAYC traded up $0.07 during trading hours on Thursday, reaching $231.81. 406,073 shares of the stock were exchanged, compared to its average volume of 794,136. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $237.33. The stock has a market cap of $13.37 billion, a PE ratio of 27.90, a PEG ratio of 3.06 and a beta of 1.11. The firm has a 50 day moving average of $195.77 and a 200 day moving average of $170.63.

Paycom Software Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.65%. Paycom Software's dividend payout ratio is 18.05%.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the company'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 sale, the chief executive officer now directly owns 2,935,958 shares of the company's stock, valued at approximately $491,215,132.98. 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. Insiders sold 52,650 shares of company stock worth $9,414,035 in the last quarter. Corporate insiders own 14.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays raised their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. BMO Capital Markets lifted their price objective on Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a research note on Thursday, October 31st. TD Cowen increased their target price on Paycom Software from $171.00 to $188.00 and gave the company a "hold" rating in a research note on Monday, September 23rd. Citigroup lifted 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. Finally, Jefferies Financial Group upped 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently 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.