Portside Wealth Group LLC Sells 126 Shares of Paycom Software, Inc. (NYSE:PAYC)

Portside Wealth Group LLC cut its holdings in Paycom Software, Inc. (NYSE:PAYC) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,401 shares of the software maker’s stock after selling 126 shares during the period. Portside Wealth Group LLC’s holdings in Paycom Software were worth $2,337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Nisa Investment Advisors LLC lifted its stake in Paycom Software by 51.4% in the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after buying an additional 905 shares during the period. JPMorgan Chase & Co. boosted its stake in Paycom Software by 14.5% during the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after acquiring an additional 41,187 shares in the last quarter. Profund Advisors LLC acquired a new stake in Paycom Software in the second quarter worth $589,000. Sylebra Capital LLC increased its stake in Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after purchasing an additional 685,190 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Paycom Software by 9.3% during the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after purchasing an additional 5,574 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on PAYC shares. Mizuho boosted their target price on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Barclays upped their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup lowered their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Piper Sandler lifted their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus price target of $199.75.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $164.29, for a total transaction of $320,365.50. Following the sale, the chief executive officer now directly owns 2,760,660 shares in the company, valued at approximately $453,548,831.40. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 21,450 shares of company stock valued at $4,212,449 over the last quarter. Company insiders own 12.60% of the company’s stock.

Paycom Software Stock Performance

PAYC stock opened at $208.51 on Friday. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The stock has a fifty day moving average of $218.99 and a 200-day moving average of $184.54. The company has a market capitalization of $12.02 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 2.78 and a beta of 1.14.

Paycom Software Announces Dividend

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