Confluence Investment Management LLC Has $62.94 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Confluence Investment Management LLC grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 147.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 377,876 shares of the software maker’s stock after buying an additional 225,081 shares during the period. Confluence Investment Management LLC owned 0.66% of Paycom Software worth $62,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software in the 3rd quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Paycom Software in the second quarter valued at $25,000. MFA Wealth Advisors LLC bought a new stake in Paycom Software during the second quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Paycom Software during the 2nd quarter worth about $27,000. Finally, Sentry Investment Management LLC bought a new position in shares of Paycom Software in the 2nd quarter worth about $33,000. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PAYC has been the topic of several research analyst reports. BMO Capital Markets upped their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Mizuho increased their price target on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday. TD Cowen lifted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, Jefferies Financial Group raised their price target 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. 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, Paycom Software currently has an average rating of “Hold” and an average target price of $193.67.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $155.63, for a total transaction of $303,478.50. Following the transaction, the chief executive officer now owns 2,978,858 shares of the company’s stock, valued at $463,599,670.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Paycom Software 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 value 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 approximately $45,990,547.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $155.63, for a total transaction of $303,478.50. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 70,382 shares of company stock valued at $11,805,199 over the last ninety days. 12.60% of the stock is currently owned by insiders.

Paycom Software Price Performance

NYSE:PAYC opened at $227.19 on Friday. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $233.69. The company has a market cap of $13.10 billion, a PE ratio of 27.34, a PEG ratio of 2.92 and a beta of 1.14. The firm has a 50-day moving average of $172.24 and a 200-day moving average of $164.35.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 yield of 0.66%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio is currently 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.