Qsemble Capital Management LP Sells 3,157 Shares of Paycom Software, Inc. (NYSE:PAYC)

Qsemble Capital Management LP reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 65.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,688 shares of the software maker’s stock after selling 3,157 shares during the period. Qsemble Capital Management LP’s holdings in Paycom Software were worth $281,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. purchased a new position in shares of Paycom Software in the 3rd quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paycom Software in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Paycom Software in the 2nd quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Paycom Software in the second quarter valued at approximately $27,000. Finally, First Horizon Advisors Inc. lifted its stake in Paycom Software by 821.7% in the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Paycom Software Trading Down 0.5 %

Paycom Software stock opened at $235.06 on Thursday. The firm has a 50-day moving average of $189.69 and a 200-day moving average of $168.73. The firm has a market cap of $13.55 billion, a P/E ratio of 28.29, a P/E/G ratio of 3.12 and a beta of 1.14. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $237.33.

Paycom Software Dividend Announcement

The company 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. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. Paycom Software’s dividend payout ratio is currently 18.05%.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 54,600 shares of company stock worth $9,726,717. Company insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Mizuho upped their price objective on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Citigroup upped their price objective on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Piper Sandler upped their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group boosted their target price 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. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $193.67.

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.