Jacobs Levy Equity Management Inc. cut its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 11.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 223,639 shares of the software maker's stock after selling 28,190 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.39% of Paycom Software worth $37,252,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in Paycom Software during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software during the 2nd quarter worth $26,000. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software during the 3rd quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software during the 2nd quarter valued at about $27,000. Finally, Brooklyn Investment Group purchased a new stake in Paycom Software during the 3rd quarter valued at about $28,000. 87.77% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $167.31, for a total transaction of $326,254.50. Following the completion of the transaction, the chief executive officer now directly owns 2,935,958 shares in the company, valued at $491,215,132.98. 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. Over the last three months, insiders sold 52,650 shares of company stock worth $9,414,035. Company insiders own 12.60% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on PAYC shares. Barclays upped their target price on Paycom Software from $172.00 to $181.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. BMO Capital Markets increased their target price on Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a report on Thursday, October 31st. TD Cowen increased their target price on Paycom Software from $171.00 to $188.00 and gave the company a "hold" rating in a report on Monday, September 23rd. Citigroup increased 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. Finally, Piper Sandler increased their price target on Paycom Software from $160.00 to $191.00 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's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $193.67.
Get Our Latest Stock Analysis on Paycom Software
Paycom Software Trading Up 0.0 %
Paycom Software stock traded up $0.06 during mid-day trading on Wednesday, hitting $229.94. The company's stock had a trading volume of 192,180 shares, compared to its average volume of 794,680. The firm has a market capitalization of $13.26 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 3.09 and a beta of 1.11. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $237.33. The stock's fifty day moving average is $194.49 and its two-hundred day moving average is $170.20.
Paycom Software Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.65%. Paycom Software's payout ratio is 18.05%.
Paycom Software Company 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.
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