Riverstone Advisors LLC Sells 3,406 Shares of Paycom Software, Inc. (NYSE:PAYC)

Riverstone Advisors LLC lessened its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 23.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,853 shares of the software maker's stock after selling 3,406 shares during the quarter. Paycom Software accounts for about 1.1% of Riverstone Advisors LLC's holdings, making the stock its 17th biggest position. Riverstone Advisors LLC's holdings in Paycom Software were worth $1,808,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Sylebra Capital LLC increased its stake in shares of Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker's stock worth $279,996,000 after purchasing an additional 685,190 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker's stock worth $152,925,000 after purchasing an additional 92,049 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Paycom Software by 14.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker's stock worth $124,709,000 after purchasing an additional 79,299 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker's stock worth $83,244,000 after purchasing an additional 529,591 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Paycom Software by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker's stock worth $65,122,000 after purchasing an additional 26,934 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Paycom Software Stock Up 0.7 %

Paycom Software stock traded up $1.56 during mid-day trading on Friday, reaching $228.75. The company had a trading volume of 492,992 shares, compared to its average volume of 759,874. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $233.69. The firm has a market cap of $13.19 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 3.06 and a beta of 1.14. The company has a 50 day moving average of $173.56 and a 200-day moving average of $164.47.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.375 dividend. 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 is 18.05%.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several recent analyst reports. StockNews.com downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a report on Monday, July 15th. Mizuho upped their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Citigroup upped their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Jefferies Financial Group upped their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. Finally, Barclays upped their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the stock an "equal weight" rating in a 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 stock. According to MarketBeat.com, Paycom Software has an average rating of "Hold" and an average target price of $193.67.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.63, for a total value of $303,478.50. Following the completion of the transaction, the chief executive officer now owns 2,978,858 shares in the company, valued at approximately $463,599,670.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction dated Monday, August 12th. The shares were 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 owns 294,849 shares in the company, valued at $45,990,547.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.63, for a total transaction of $303,478.50. Following the sale, the chief executive officer now owns 2,978,858 shares of the company's stock, valued at $463,599,670.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,382 shares of company stock worth $11,805,199. 14.50% of the stock is currently owned by corporate insiders.

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.