Diversify Wealth Management LLC Reduces Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Diversify Wealth Management LLC lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,986 shares of the software maker’s stock after selling 122 shares during the quarter. Diversify Wealth Management LLC’s holdings in Paycom Software were worth $603,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software during the 3rd quarter worth about $26,000. Brooklyn Investment Group acquired a new stake in Paycom Software in the 3rd quarter worth about $28,000. Pin Oak Investment Advisors Inc. boosted its stake in Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after buying an additional 77 shares during the last quarter. 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 buying an additional 189 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Paycom Software by 277.1% in the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock worth $44,000 after buying an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Paycom Software stock opened at $209.25 on Wednesday. The stock’s 50 day moving average price is $218.60 and its 200 day moving average price is $185.30. The firm has a market capitalization of $12.07 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 2.88 and a beta of 1.14. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.72%. The ex-dividend date was Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $167.37, for a total transaction of $326,371.50. Following the sale, the chief executive officer now directly owns 2,754,810 shares in the company, valued at $461,072,549.70. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 17,550 shares of company stock worth $3,562,202 in the last three months. 12.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Mizuho raised their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Jefferies Financial Group lifted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. BMO Capital Markets lifted 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, Citigroup reduced their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Twelve equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $199.75.

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.