iA Global Asset Management Inc. decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 79.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,839 shares of the software maker's stock after selling 7,170 shares during the quarter. iA Global Asset Management Inc.'s holdings in Paycom Software were worth $306,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of PAYC. Nisa Investment Advisors LLC lifted its position in Paycom Software by 51.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker's stock worth $444,000 after buying an additional 905 shares during the last quarter. Profund Advisors LLC bought a new stake in Paycom Software in the second quarter valued at approximately $589,000. Sylebra Capital LLC lifted its position in Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker's stock valued at $279,996,000 after purchasing an additional 685,190 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Paycom Software by 1,549.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,662 shares of the software maker's stock valued at $3,098,000 after purchasing an additional 20,349 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position 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 during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.
Insider Activity
In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Thursday, September 12th. The stock was 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 directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 50,700 shares of company stock worth $9,098,135 over the last three months. 12.60% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
PAYC has been the subject of several recent research reports. Barclays boosted their price objective on Paycom Software from $172.00 to $181.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Mizuho upped their target price on Paycom Software from $170.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Jefferies Financial Group upped their target price on Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a report on Thursday, October 31st. TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a report on Monday. Finally, Citigroup upped their target price on Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $200.33.
Check Out Our Latest Report on PAYC
Paycom Software Stock Up 2.0 %
Shares of NYSE:PAYC traded up $4.60 on Wednesday, hitting $240.26. 673,579 shares of the company traded hands, compared to its average volume of 790,453. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The stock has a 50 day simple moving average of $201.19 and a 200-day simple moving average of $172.21. The company has a market cap of $13.85 billion, a PE ratio of 28.36, a PEG ratio of 3.15 and a beta of 1.11.
Paycom Software Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were issued a dividend of $0.375 per share. The ex-dividend date was Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.62%. Paycom Software's payout ratio is presently 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.
Featured Stories
Before you consider Paycom Software, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paycom Software wasn't on the list.
While Paycom Software currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
