International Assets Investment Management LLC Sells 279,824 Shares of Paycom Software, Inc. (NYSE:PAYC)

International Assets Investment Management LLC lowered its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 99.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,491 shares of the software maker's stock after selling 279,824 shares during the quarter. International Assets Investment Management LLC's holdings in Paycom Software were worth $300,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PAYC. Sylebra Capital LLC lifted its stake in shares of Paycom Software by 0.3% in the 3rd quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker's stock valued at $326,888,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC boosted its position in shares of Paycom Software by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker's stock worth $237,015,000 after purchasing an additional 45,404 shares in the last quarter. FMR LLC grew its stake in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock worth $167,889,000 after buying an additional 357,723 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Paycom Software by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker's stock valued at $104,524,000 after buying an additional 6,488 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Paycom Software by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker's stock valued at $81,030,000 after buying an additional 151,807 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Price Performance

Shares of NYSE:PAYC traded down $1.64 during mid-day trading on Monday, reaching $200.36. 26,023 shares of the company traded hands, compared to its average volume of 422,358. The firm has a market cap of $11.55 billion, a PE ratio of 24.11, a PEG ratio of 3.12 and a beta of 1.14. The company's 50 day moving average price is $220.82 and its 200-day moving average price is $182.63. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Monday, November 25th. Paycom Software's dividend payout ratio is 18.05%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PAYC. Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. StockNews.com raised Paycom Software from a "hold" rating to a "buy" rating in a report on Monday, December 16th. BMO Capital Markets boosted their target price on Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a research report on Thursday, October 31st. Mizuho raised their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Finally, TD Cowen raised their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a "hold" rating in a report on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $196.63.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $163.51, for a total transaction of $318,844.50. Following the transaction, the chief executive officer now owns 2,770,410 shares in the company, valued at $452,989,739.10. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders sold 25,350 shares of company stock valued at $4,853,570. Insiders own 14.50% of the company's stock.

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.