Portside Wealth Group LLC Has $1.92 Million Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Portside Wealth Group LLC increased its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 70.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,527 shares of the software maker's stock after buying an additional 4,773 shares during the quarter. Portside Wealth Group LLC's holdings in Paycom Software were worth $1,920,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Empirical Finance LLC increased its holdings in shares of Paycom Software by 3.9% during the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker's stock valued at $314,000 after purchasing an additional 60 shares during the period. Andina Capital Management LLC increased its holdings in shares of Paycom Software by 4.0% during the third 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 increased its holdings in shares of Paycom Software by 1.0% during the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker's stock valued at $1,067,000 after purchasing an additional 64 shares during the period. GAMMA Investing LLC increased 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 valued at $54,000 after purchasing an additional 68 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Paycom Software by 1.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker's stock valued at $661,000 after purchasing an additional 79 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Trading Up 0.7 %

NYSE PAYC traded up $1.58 during trading on Friday, reaching $228.77. 492,927 shares of the company's stock were exchanged, compared to its average volume of 756,983. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $233.69. The firm has a market capitalization of $13.19 billion, a PE ratio of 27.53, a P/E/G ratio of 3.09 and a beta of 1.14. The company's fifty day simple moving average is $172.24 and its 200-day simple moving average is $164.35.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software's dividend payout ratio (DPR) is presently 18.05%.

Insider Transactions at Paycom Software

In other news, CFO Craig E. Boelte sold 11,882 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the completion of the sale, the chief financial officer now directly owns 294,849 shares of the company's stock, valued at $45,990,547.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Craig E. Boelte sold 11,882 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the transaction, the chief financial officer now directly owns 294,849 shares of the company's stock, valued at approximately $45,990,547.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.66, for a total value of $309,387.00. Following the completion of the transaction, the chief executive officer now directly owns 2,973,008 shares in the company, valued at $471,697,449.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,382 shares of company stock valued at $11,805,199 in the last three months. Corporate insiders own 14.50% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PAYC shares. Piper Sandler raised their target price on Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Mizuho raised their target price on Paycom Software from $170.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday. Citigroup raised their target price on Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research note on Thursday, August 1st. Finally, StockNews.com cut Paycom Software from a "buy" rating to a "hold" rating in a research note on Monday, July 15th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $193.67.

Paycom Software 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.