Knuff & Co LLC Decreases Position in Paycom Software, Inc. (NYSE:PAYC)

Knuff & Co LLC lowered its stake in Paycom Software, Inc. (NYSE:PAYC) by 13.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 356 shares of the software maker’s stock after selling 57 shares during the quarter. Knuff & Co LLC’s holdings in Paycom Software were worth $59,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paycom Software in the second quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new stake in Paycom Software during the 2nd quarter valued at approximately $26,000. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software during the 3rd quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Paycom Software in the 2nd quarter valued at approximately $27,000. Finally, CVA Family Office LLC boosted its stake in shares of Paycom Software by 234.3% during the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock valued at $33,000 after buying an additional 164 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PAYC shares. Barclays lifted their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. TD Cowen raised their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Mizuho upped their target price on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Jefferies Financial Group lifted their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets boosted their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report 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, the company presently has an average rating of “Hold” and a consensus target price of $193.67.

Paycom Software Stock Down 0.4 %

Shares of PAYC stock opened at $218.90 on Tuesday. The company has a market cap of $12.62 billion, a P/E ratio of 26.34, a PEG ratio of 2.94 and a beta of 1.14. The business has a 50 day moving average of $180.24 and a two-hundred day moving average of $165.62. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $233.69.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. Paycom Software’s dividend payout ratio is currently 18.05%.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.12, for a total value of $318,084.00. Following the sale, the chief executive officer now directly owns 3,534,499 shares in the company, valued at $576,547,476.88. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 58,500 shares of company stock worth $10,361,228 in the last three months. 12.60% of the stock is owned by insiders.

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.