Verdence Capital Advisors LLC Purchases 3,514 Shares of Paycom Software, Inc. (NYSE:PAYC)

Verdence Capital Advisors LLC grew its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 90.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,414 shares of the software maker's stock after acquiring an additional 3,514 shares during the quarter. Verdence Capital Advisors LLC's holdings in Paycom Software were worth $1,235,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paycom Software during the second quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Paycom Software in the second quarter worth $26,000. Armstrong Advisory Group Inc. purchased a new position in shares of Paycom Software in the third quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Paycom Software in the second quarter worth $27,000. Finally, CVA Family Office LLC increased its stake in shares of Paycom Software by 234.3% in the second quarter. CVA Family Office LLC now owns 234 shares of the software maker's stock worth $33,000 after buying an additional 164 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. StockNews.com downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Monday, July 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays lifted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Mizuho lifted their target price on shares of Paycom Software from $170.00 to $190.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Finally, BMO Capital Markets lifted their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $193.67.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction on Monday, August 12th. The shares were 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 in the company, valued at approximately $463,599,670.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction on Monday, August 12th. The shares were 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 in the company, valued at approximately $463,599,670.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Craig E. Boelte sold 11,882 shares of the company'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 transaction, the chief financial officer now owns 294,849 shares in the company, valued at approximately $45,990,547.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,382 shares of company stock worth $11,805,199. Corporate insiders own 14.50% of the company's stock.

Paycom Software Stock Up 0.7 %

Shares of PAYC stock traded up $1.56 during mid-day trading on Friday, reaching $228.75. 492,992 shares of the company's stock traded hands, compared to its average volume of 759,874. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $233.69. The company has a market cap of $13.19 billion, a P/E ratio of 27.53, a P/E/G ratio of 3.06 and a beta of 1.14. The company's 50-day moving average price is $173.56 and its 200-day moving average price is $164.47.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued 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 is Monday, November 25th. Paycom Software's dividend payout ratio (DPR) is presently 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.