iA Global Asset Management Inc. Sells 7,170 Shares of Paycom Software, Inc. (NYSE:PAYC)

iA Global Asset Management Inc. lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 79.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,839 shares of the software maker’s stock after selling 7,170 shares during the quarter. iA Global Asset Management Inc.’s holdings in Paycom Software were worth $306,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Sylebra Capital LLC lifted its position in Paycom Software by 53.9% during the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after purchasing an additional 685,190 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock valued at $152,925,000 after buying an additional 92,049 shares during the last quarter. FMR LLC lifted its holdings in shares of Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after buying an additional 357,723 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Paycom Software by 1.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock worth $104,524,000 after buying an additional 6,488 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after acquiring an additional 529,591 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $170.27, for a total transaction of $332,026.50. Following the completion of the transaction, the chief executive officer now owns 2,932,058 shares in the company, valued at approximately $499,241,515.66. This 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 can be accessed through this hyperlink. Insiders sold a total of 50,700 shares of company stock valued at $9,098,135 in the last three months. 12.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on PAYC. Mizuho increased their target price on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. BMO Capital Markets raised their price objective 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 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. TD Cowen lifted their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Citigroup upped their price objective on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average target price of $200.33.

Paycom Software Stock Up 0.3 %

Shares of Paycom Software stock opened at $235.66 on Wednesday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $238.57. The stock’s 50-day simple moving average is $201.19 and its 200-day simple moving average is $172.21. The company has a market capitalization of $13.59 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 3.15 and a beta of 1.11.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.64%. Paycom Software’s payout ratio 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.