Paycom Software, Inc. (NYSE:PAYC) Stock Position Increased by North Star Asset Management Inc.

North Star Asset Management Inc. boosted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 46.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 40,818 shares of the software maker’s stock after buying an additional 13,031 shares during the period. North Star Asset Management Inc.’s holdings in Paycom Software were worth $5,839,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PAYC. Amalgamated Bank lifted its position in shares of Paycom Software by 2.3% during the 4th quarter. Amalgamated Bank now owns 14,556 shares of the software maker’s stock valued at $3,009,000 after acquiring an additional 329 shares during the last quarter. M&T Bank Corp raised its holdings in Paycom Software by 11.6% during the 4th quarter. M&T Bank Corp now owns 2,515 shares of the software maker’s stock worth $520,000 after buying an additional 262 shares during the period. Private Advisor Group LLC lifted its stake in Paycom Software by 104.9% during the fourth quarter. Private Advisor Group LLC now owns 2,522 shares of the software maker’s stock valued at $521,000 after buying an additional 1,291 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Paycom Software by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 302,544 shares of the software maker’s stock valued at $62,542,000 after buying an additional 12,708 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Paycom Software in the fourth quarter worth approximately $134,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Trading Down 0.8 %

Shares of Paycom Software stock opened at $154.91 on Friday. The firm has a fifty day simple moving average of $156.84 and a 200-day simple moving average of $169.26. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.30 and a beta of 1.17. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $290.54.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 26th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Monday, August 26th. Paycom Software’s dividend payout ratio is currently 18.27%.

Insider Buying and Selling

In other news, insider Jason D. Clark sold 906 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $143.61, for a total value of $130,110.66. Following the completion of the sale, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jason D. Clark sold 906 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $143.61, for a total transaction of $130,110.66. Following the transaction, the insider now directly owns 43,367 shares in the company, valued at $6,227,934.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Amy Vickroy sold 1,381 shares of Paycom Software stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the sale, the executive vice president now owns 19,962 shares in the company, valued at approximately $2,862,351.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,143 shares of company stock valued at $11,678,915. Insiders own 14.50% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the subject of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Citigroup reduced their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Jefferies Financial Group decreased their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, Barclays increased their price target on shares of Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $178.33.

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.