Confluence Investment Management LLC reduced its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 361,757 shares of the software maker's stock after selling 16,119 shares during the quarter. Confluence Investment Management LLC owned about 0.63% of Paycom Software worth $74,149,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of PAYC. Private Trust Co. NA boosted its holdings in Paycom Software by 11.2% in the 3rd quarter. Private Trust Co. NA now owns 526 shares of the software maker's stock valued at $88,000 after purchasing an additional 53 shares during the period. Wrapmanager Inc. grew its position in Paycom Software by 2.6% during the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker's stock worth $362,000 after buying an additional 56 shares in the last quarter. Andina Capital Management LLC increased its stake in Paycom Software by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker's stock worth $275,000 after acquiring an additional 63 shares during the last quarter. Davis Investment Partners LLC raised its holdings in shares of Paycom Software by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker's stock valued at $1,067,000 after acquiring an additional 64 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker's stock valued at $54,000 after acquiring an additional 68 shares during the last quarter. 87.77% of the stock is owned by institutional investors.
Paycom Software Stock Performance
NYSE:PAYC traded down $3.57 during midday trading on Thursday, reaching $201.40. 530,592 shares of the stock traded hands, compared to its average volume of 781,469. The stock has a market capitalization of $11.61 billion, a P/E ratio of 24.24, a PEG ratio of 3.12 and a beta of 1.11. The company has a fifty day moving average of $218.36 and a 200 day moving average of $179.62. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74.
Paycom Software Dividend Announcement
The company also recently announced 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 of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.74%. Paycom Software's dividend payout ratio is currently 18.05%.
Insider Buying and Selling
In related news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the sale, the chief executive officer now owns 2,731,410 shares of the company's stock, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 33,150 shares of company stock valued at $6,130,586 over the last ninety days. 14.50% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on PAYC shares. Piper Sandler upped their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. BMO Capital Markets upped their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a research report on Thursday, October 31st. TD Cowen raised their price target on Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a research report on Monday, December 9th. Citigroup upped their price objective on Paycom Software from $172.00 to $196.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, Mizuho boosted their target price on Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Paycom Software presently has an average rating of "Hold" and an average price target of $202.56.
View Our Latest Research Report on Paycom Software
Paycom Software Company Profile
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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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