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

Diversify Wealth Management LLC reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,986 shares of the software maker’s stock after selling 122 shares during the period. Diversify Wealth Management LLC’s holdings in Paycom Software were worth $603,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PAYC. Dimensional Fund Advisors LP increased its stake in Paycom Software by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 262,803 shares of the software maker’s stock valued at $37,591,000 after purchasing an additional 10,204 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Paycom Software by 111.2% in the second quarter. XTX Topco Ltd now owns 4,070 shares of the software maker’s stock valued at $582,000 after acquiring an additional 2,143 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Paycom Software by 15.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,907 shares of the software maker’s stock valued at $702,000 after acquiring an additional 643 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Paycom Software by 7.9% in the second quarter. Pacer Advisors Inc. now owns 4,397 shares of the software maker’s stock valued at $629,000 after acquiring an additional 323 shares during the period. Finally, Ensign Peak Advisors Inc boosted its holdings in shares of Paycom Software by 41.5% in the second quarter. Ensign Peak Advisors Inc now owns 56,578 shares of the software maker’s stock valued at $8,093,000 after acquiring an additional 16,586 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $164.97, for a total value of $321,691.50. Following the completion of the transaction, the chief executive officer now owns 2,756,760 shares in the company, valued at $454,782,697.20. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 17,550 shares of company stock worth $3,562,202 over the last 90 days. 12.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PAYC has been the subject of several research analyst reports. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Piper Sandler increased their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Mizuho increased their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Barclays increased their price target on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Citigroup decreased their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Twelve analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $199.75.

Paycom Software Stock Performance

Paycom Software stock opened at $209.25 on Wednesday. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The business has a fifty day moving average of $218.60 and a two-hundred day moving average of $185.30. The company has a market cap of $12.07 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 2.88 and a beta of 1.14.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

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.