Intellectus Partners LLC Invests $391,000 in Paycom Software, Inc. (NYSE:PAYC)

Intellectus Partners LLC acquired a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,350 shares of the software maker's stock, valued at approximately $391,000.

A number of other institutional investors also recently made changes to their positions in PAYC. Sylebra Capital LLC increased its stake in Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker's stock worth $279,996,000 after purchasing an additional 685,190 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Paycom Software by 9.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker's stock worth $152,925,000 after acquiring an additional 92,049 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker's stock valued at $83,244,000 after acquiring an additional 529,591 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Paycom Software by 6.3% during the second quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker's stock valued at $65,122,000 after acquiring an additional 26,934 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its holdings in shares of Paycom Software by 147.3% during the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker's stock worth $62,943,000 after purchasing an additional 225,081 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Trading Down 2.1 %

Paycom Software stock traded down $4.79 during mid-day trading on Friday, hitting $219.88. The company had a trading volume of 478,120 shares, compared to its average volume of 812,393. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $233.69. The company has a market capitalization of $12.68 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14. The stock's 50 day moving average price is $180.24 and its two-hundred day moving average price is $165.92.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software's payout ratio is 18.05%.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $162.27, for a total transaction of $316,426.50. Following the sale, the chief executive officer now directly owns 2,961,308 shares in the company, valued at approximately $480,531,449.16. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 60,450 shares of company stock valued at $10,672,818. 14.50% of the stock is owned by insiders.

Analyst Ratings Changes

PAYC has been the subject of several research analyst reports. Mizuho increased their price objective on Paycom Software from $170.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Barclays boosted 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 report on Thursday, October 31st. Citigroup raised their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. TD Cowen increased their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a "hold" rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group lifted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Paycom Software presently has a consensus rating of "Hold" and an average target price of $193.67.

About Paycom Software

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.