Pine Valley Investments Ltd Liability Co Has $2.34 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Pine Valley Investments Ltd Liability Co increased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 26.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 14,053 shares of the software maker's stock after purchasing an additional 2,944 shares during the period. Pine Valley Investments Ltd Liability Co's holdings in Paycom Software were worth $2,341,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Armstrong Advisory Group Inc. acquired a new stake in shares of Paycom Software during the 3rd quarter worth about $26,000. Brooklyn Investment Group bought a new position in Paycom Software in the 3rd quarter valued at about $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in Paycom Software during the second quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. boosted its holdings in shares of Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker's stock worth $30,000 after acquiring an additional 77 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Paycom Software in the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Paycom Software Stock Down 2.8 %

Shares of PAYC stock traded down $6.61 on Friday, reaching $233.39. The company had a trading volume of 116,683 shares, compared to its average volume of 786,763. The business's 50-day moving average is $204.13 and its 200 day moving average is $173.15. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The stock has a market capitalization of $13.46 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 3.20 and a beta of 1.11.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were given a $0.375 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. Paycom Software's dividend payout ratio is currently 18.05%.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total transaction of $446,725.50. Following the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 48,750 shares of company stock valued at $8,771,880. 14.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PAYC has been the subject of several recent research reports. Citigroup boosted their price target on Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Piper Sandler boosted their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a "neutral" 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 stock a "neutral" rating in a research report on Friday. 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 report on Thursday, October 31st. Finally, BMO Capital Markets increased 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. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $202.56.

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.