Crestwood Advisors Group LLC Has $431,000 Holdings in Paycom Software, Inc. (NYSE:PAYC)

Crestwood Advisors Group LLC decreased its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 11.5% in the 3rd quarter, Holdings Channel reports. The fund owned 2,588 shares of the software maker’s stock after selling 335 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Paycom Software were worth $431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its holdings in Paycom Software by 6.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 13,971 shares of the software maker’s stock worth $2,327,000 after purchasing an additional 867 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Paycom Software by 11.0% during the third quarter. Van ECK Associates Corp now owns 10,452 shares of the software maker’s stock worth $1,718,000 after buying an additional 1,037 shares during the period. Optas LLC bought a new position in shares of Paycom Software during the third quarter worth about $954,000. Farther Finance Advisors LLC raised its position in Paycom Software by 22.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 602 shares of the software maker’s stock valued at $100,000 after buying an additional 112 shares during the last quarter. Finally, Americana Partners LLC lifted its stake in Paycom Software by 51.9% in the 3rd quarter. Americana Partners LLC now owns 3,230 shares of the software maker’s stock valued at $538,000 after acquiring an additional 1,104 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.63, for a total transaction of $303,478.50. Following the completion of the sale, the chief executive officer now owns 2,978,858 shares of the company’s stock, valued at approximately $463,599,670.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the transaction, the chief financial officer now owns 294,849 shares in the company, valued at $45,990,547.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.63, for a total value of $303,478.50. Following the sale, the chief executive officer now directly owns 2,978,858 shares of the company’s stock, valued at $463,599,670.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,332 shares of company stock valued at $12,113,825 over the last ninety days. 12.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PAYC has been the topic of a number of recent research reports. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Mizuho lifted their price target on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday. Jefferies Financial Group increased their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Piper Sandler raised 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. Finally, Barclays upped 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. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $193.67.

Paycom Software Trading Up 5.7 %

Shares of NYSE PAYC opened at $231.09 on Thursday. The company has a market capitalization of $13.32 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.92 and a beta of 1.14. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $233.69. The stock has a 50 day moving average of $170.97 and a 200-day moving average of $163.91.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.65%. Paycom Software’s dividend payout ratio is currently 18.05%.

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.