Prospera Private Wealth LLC purchased a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,917 shares of the software maker's stock, valued at approximately $652,000.
Other hedge funds have also modified their holdings of the company. Armstrong Advisory Group Inc. purchased a new stake in shares of Paycom Software during the 3rd quarter worth about $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paycom Software during the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Paycom Software during the 2nd quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Paycom Software in the 2nd quarter valued at about $27,000. Finally, Sentry Investment Management LLC purchased a new position in Paycom Software in the 2nd quarter valued at about $33,000. 87.77% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $163.12, for a total value of $318,084.00. Following the completion of the sale, the chief executive officer now owns 3,534,499 shares in the company, valued at approximately $576,547,476.88. This trade represents a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 58,500 shares of company stock worth $10,361,228 in the last 90 days. Insiders own 12.60% of the company's stock.
Shares of NYSE PAYC opened at $219.67 on Thursday. The company has a 50 day simple moving average of $182.32 and a 200-day simple moving average of $166.31. The company has a market capitalization of $12.67 billion, a P/E ratio of 26.43, 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 also recently declared 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 of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.68%. Paycom Software's dividend payout ratio is currently 18.05%.
PAYC has been the topic of a number of research reports. Barclays raised their price target on shares of Paycom Software from $172.00 to $181.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Mizuho raised their price target on shares of Paycom Software from $170.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Citigroup raised their price target on shares of 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 raised their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group raised their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Paycom Software presently has an average rating of "Hold" and an average target price of $193.67.
Read Our Latest Research Report on PAYC
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.
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