Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC cut its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 361,757 shares of the software maker’s stock after selling 16,119 shares during the period. Confluence Investment Management LLC’s holdings in Paycom Software were worth $74,149,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Armstrong Advisory Group Inc. acquired a new stake in Paycom Software during the 3rd quarter worth about $26,000. Brooklyn Investment Group acquired a new stake in shares of Paycom Software during the third quarter valued at approximately $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $25,000. Pin Oak Investment Advisors Inc. lifted its position in shares of Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after acquiring an additional 77 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after purchasing an additional 189 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total transaction of $446,725.50. Following the completion of the sale, the chief executive officer now owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. This represents a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 33,150 shares of company stock worth $6,130,586. 14.50% of the stock is owned by corporate insiders.

Paycom Software Price Performance

NYSE:PAYC traded down $1.34 during mid-day trading on Thursday, reaching $203.63. The stock had a trading volume of 59,398 shares, compared to its average volume of 781,469. The stock has a market cap of $11.74 billion, a P/E ratio of 24.50, a PEG ratio of 3.12 and a beta of 1.11. The business’s 50 day moving average is $217.63 and its 200 day moving average is $179.47. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.74%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Mizuho boosted their target price on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Barclays upped their price target on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Piper Sandler raised their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Citigroup upped their target price on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report 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 stock a “hold” rating in a report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Paycom Software presently has an average rating of “Hold” and a consensus price target of $202.56.

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.