Intrinsic Value Partners LLC purchased a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,755 shares of the software maker's stock, valued at approximately $1,791,000. Paycom Software makes up approximately 1.8% of Intrinsic Value Partners LLC's investment portfolio, making the stock its 16th largest holding.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PAYC. Andina Capital Management LLC boosted its position in shares of Paycom Software by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker's stock valued at $275,000 after purchasing an additional 63 shares during the period. Davis Investment Partners LLC raised its holdings in shares of Paycom Software by 1.0% in the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker's stock valued at $1,067,000 after buying an additional 64 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Paycom Software by 26.7% during the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker's stock worth $54,000 after buying an additional 68 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Paycom Software by 1.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker's stock valued at $661,000 after acquiring an additional 79 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in Paycom Software by 37.0% during the 1st quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker's stock valued at $60,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.
Insider Buying and Selling at Paycom Software
In other news, CEO Chad R. Richison sold 1,950 shares of the company's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $159.79, for a total value of $311,590.50. Following the sale, the chief executive officer now directly owns 2,969,108 shares in the company, valued at $474,433,767.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 56,550 shares of company stock valued at $9,648,366 over the last quarter. Corporate insiders own 14.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on PAYC shares. TD Cowen upped their price target on Paycom Software from $171.00 to $188.00 and gave the stock a "hold" rating in a research note on Monday, September 23rd. Barclays upped 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 report on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a report on Thursday, October 31st. BMO Capital Markets increased their price target on shares of Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. Finally, StockNews.com lowered Paycom Software from a "buy" rating to a "hold" rating in a report on Monday, July 15th. Twelve equities research 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 a consensus price target of $193.67.
Read Our Latest Stock Report on Paycom Software
Paycom Software Price Performance
PAYC traded down $1.05 during trading on Monday, reaching $227.70. 457,830 shares of the stock were exchanged, compared to its average volume of 817,945. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $233.69. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 3.06 and a beta of 1.14. The business's 50 day moving average price is $173.56 and its two-hundred day moving average price is $164.31.
Paycom Software Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Monday, November 25th. Paycom Software's payout ratio is currently 18.05%.
About Paycom Software
(
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.
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