Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Baron Wealth Management LLC

Baron Wealth Management LLC cut its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 3.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,917 shares of the software maker’s stock after selling 75 shares during the period. Baron Wealth Management LLC’s holdings in Paycom Software were worth $319,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PAYC. Sylebra Capital LLC acquired a new position in Paycom Software during the first quarter worth $253,196,000. Federated Hermes Inc. grew its holdings in shares of Paycom Software by 1,011.2% during the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after buying an additional 529,591 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Paycom Software by 9,997.5% during the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after buying an additional 278,529 shares in the last quarter. Confluence Investment Management LLC grew its holdings in shares of Paycom Software by 147.3% during the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after buying an additional 225,081 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after buying an additional 178,198 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PAYC. Barclays upped their target price 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. BMO Capital Markets upped their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” 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 company a “hold” rating in a report on Thursday, October 31st. Piper Sandler upped their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Citigroup upped their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” 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 company. Based on data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus target price of $193.67.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $162.27, for a total value of $316,426.50. Following the sale, the chief executive officer now owns 2,961,308 shares of the company’s stock, valued at $480,531,449.16. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 58,500 shares of company stock valued at $10,361,228 over the last 90 days. 12.60% of the stock is owned by corporate insiders.

Paycom Software Stock Performance

Shares of PAYC opened at $218.90 on Tuesday. The stock has a market capitalization of $12.62 billion, a PE ratio of 26.34, a P/E/G ratio of 2.94 and a beta of 1.14. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $233.69. The company’s 50-day simple moving average is $180.24 and its 200-day simple moving average is $165.62.

Paycom Software Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 0.69%. Paycom Software’s dividend payout ratio (DPR) 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.