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

Confluence Investment Management LLC cut its position in Paycom Software, Inc. (NYSE:PAYC) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 361,757 shares of the software maker’s stock after selling 16,119 shares during the quarter. Confluence Investment Management LLC owned 0.63% of Paycom Software worth $74,149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PAYC. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software during the 3rd quarter worth approximately $26,000. Brooklyn Investment Group bought a new stake in shares of Paycom Software in the third quarter worth $28,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paycom Software in the second quarter worth $25,000. Pin Oak Investment Advisors Inc. raised its holdings in Paycom Software by 73.3% in the third 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% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after acquiring an additional 189 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Down 0.7 %

PAYC stock traded down $1.34 during mid-day trading on Thursday, reaching $203.63. The company had a trading volume of 59,398 shares, compared to its average volume of 781,469. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The stock has a market capitalization of $11.74 billion, a P/E ratio of 24.50, a P/E/G ratio of 3.12 and a beta of 1.11. The stock’s 50-day simple moving average is $217.63 and its two-hundred day simple moving average is $179.47.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were given a $0.375 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.74%. Paycom Software’s dividend payout ratio is presently 18.05%.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $162.17, for a total transaction of $316,231.50. Following the transaction, the chief executive officer now owns 2,780,160 shares of the company’s stock, valued at approximately $450,858,547.20. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 33,150 shares of company stock worth $6,130,586 in the last ninety days. 14.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PAYC shares. Piper Sandler boosted 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. Jefferies Financial Group upped 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. Barclays increased their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. BMO Capital Markets boosted their price target on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Finally, Mizuho raised their price objective on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.