Angeles Wealth Management LLC Buys Shares of 1,314 Paycom Software, Inc. (NYSE:PAYC)

Angeles Wealth Management LLC purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 1,314 shares of the software maker’s stock, valued at approximately $269,000.

A number of other large investors have also made changes to their positions in PAYC. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the third quarter worth about $26,000. Brooklyn Investment Group acquired a new stake in shares of Paycom Software during the 3rd quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. boosted its stake in shares of Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of 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 acquiring an additional 189 shares during the period. Finally, Blue Trust Inc. increased 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 valued at $44,000 after purchasing an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the 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 transaction, the chief executive officer now directly owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 14.50% of the company’s stock.

Paycom Software Stock Performance

Shares of PAYC opened at $204.85 on Tuesday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The company’s 50 day simple moving average is $212.80 and its 200 day simple moving average is $190.69. The company has a market capitalization of $11.81 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 2.81 and a beta of 1.15.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.73%. Paycom Software’s dividend payout ratio is presently 18.05%.

Wall Street Analyst Weigh In

PAYC has been the topic of several research reports. TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Jefferies Financial Group increased their price objective 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. Barclays cut their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. BMO Capital Markets increased their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $204.75.

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.