Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 39.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,433 shares of the software maker's stock after selling 17,082 shares during the quarter. Franklin Resources Inc.'s holdings in Paycom Software were worth $4,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in Paycom Software by 51.4% during the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker's stock valued at $444,000 after purchasing an additional 905 shares during the period. Profund Advisors LLC purchased a new position in shares of Paycom Software during the 2nd quarter valued at about $589,000. Sylebra Capital LLC grew its stake in shares of Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker's stock valued at $279,996,000 after acquiring an additional 685,190 shares during the period. Principal Financial Group Inc. increased its holdings in Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock worth $10,962,000 after acquiring an additional 5,574 shares in the last quarter. Finally, SpiderRock Advisors LLC bought a new stake in Paycom Software during the 3rd quarter worth approximately $555,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $170.41, for a total transaction of $332,299.50. Following the completion of the transaction, the chief executive officer now directly owns 2,801,160 shares in the company, valued at $477,345,675.60. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 40,950 shares of company stock valued at $7,440,791 in the last three months. 12.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PAYC. Piper Sandler increased their price target on Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. StockNews.com raised shares of Paycom Software from a "hold" rating to a "buy" rating in a report on Monday, December 16th. Mizuho upped their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Barclays lifted their price objective 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, TD Cowen upped their target price on shares of Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a research report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $202.56.

Paycom Software Stock Up 1.4 %

Shares of Paycom Software stock traded up $2.84 during trading hours on Tuesday, reaching $209.75. 147,458 shares of the company's stock were exchanged, compared to its average volume of 788,464. The business has a fifty day moving average of $211.80 and a two-hundred day moving average of $176.60. The company has a market capitalization of $12.09 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 3.12 and a beta of 1.11. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software's 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.