Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lessened its position in Paycom Software, Inc. (NYSE:PAYC) by 5.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 531,682 shares of the software maker’s stock after selling 29,324 shares during the period. Paycom Software makes up 1.5% of Riverbridge Partners LLC’s holdings, making the stock its 25th largest position. Riverbridge Partners LLC’s holdings in Paycom Software were worth $108,979,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Phillips Wealth Planners LLC bought a new stake in Paycom Software during the fourth quarter worth approximately $235,000. Barlow Wealth Partners Inc. lifted its position in shares of Paycom Software by 4.3% during the 4th quarter. Barlow Wealth Partners Inc. now owns 97,986 shares of the software maker’s stock valued at $20,121,000 after acquiring an additional 4,034 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Paycom Software by 175.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,351 shares of the software maker’s stock valued at $1,507,000 after acquiring an additional 4,685 shares during the last quarter. JBGlobal.com LLC bought a new stake in shares of Paycom Software during the 4th quarter worth $285,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Paycom Software in the 4th quarter worth $246,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Price Performance

Shares of PAYC opened at $207.70 on Thursday. The company has a market capitalization of $11.98 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 2.87 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. The company’s fifty day moving average price is $218.21 and its 200 day moving average price is $185.77.

Paycom Software Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. Paycom Software’s dividend payout ratio is presently 18.05%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BMO Capital Markets lifted their target price 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. Barclays boosted their price objective on shares of 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 increased their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen boosted their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Finally, Citigroup dropped their price target on shares of 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 research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $199.75.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $167.37, for a total value 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. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 17,550 shares of company stock valued at $3,562,202. Insiders own 14.50% of the company’s stock.

Paycom Software 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.