Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd lowered its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 64.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,341 shares of the software maker's stock after selling 23,890 shares during the quarter. Quadrature Capital Ltd's holdings in Paycom Software were worth $2,223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its position in shares of Paycom Software by 51.4% during the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker's stock worth $444,000 after purchasing an additional 905 shares in the last quarter. Profund Advisors LLC purchased a new position in Paycom Software during the 2nd quarter valued at approximately $589,000. Sylebra Capital LLC grew its holdings in Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker's stock valued at $279,996,000 after buying an additional 685,190 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Paycom Software by 1,549.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,662 shares of the software maker's stock valued at $3,098,000 after buying an additional 20,349 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Paycom Software by 9.3% during the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock valued at $10,962,000 after buying an additional 5,574 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 2,731,410 shares of the company's stock, valued at approximately $625,738,716.90. This represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 52,650 shares of company stock valued at $9,414,035. 14.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PAYC. Piper Sandler raised 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. Mizuho raised their price target on Paycom Software from $170.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, November 4th. BMO Capital Markets lifted their target price on Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. Citigroup lifted their target price on Paycom Software from $172.00 to $196.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, Barclays raised their price target 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. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Paycom Software currently has a consensus rating of "Hold" and an average price target of $193.67.

Paycom Software Price Performance

Paycom Software stock traded up $4.67 during trading hours on Friday, hitting $236.48. 488,075 shares of the stock traded hands, compared to its average volume of 472,948. The stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 28.48, a P/E/G 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 $238.18. The firm's 50 day moving average price is $198.43 and its 200-day moving average price is $171.45.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.63%. Paycom Software's payout ratio is 18.05%.

Paycom Software Company 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.