Venturi Wealth Management LLC Decreases Position in Paycom Software, Inc. (NYSE:PAYC)

Venturi Wealth Management LLC lowered its position in Paycom Software, Inc. (NYSE:PAYC) by 21.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,801 shares of the software maker’s stock after selling 490 shares during the quarter. Venturi Wealth Management LLC’s holdings in Paycom Software were worth $300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Nisa Investment Advisors LLC raised its position in Paycom Software by 51.4% during the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock worth $444,000 after acquiring an additional 905 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Paycom Software by 29.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock worth $12,848,000 after purchasing an additional 14,670 shares during the last quarter. Sylebra Capital LLC acquired a new stake in Paycom Software during the 1st quarter valued at $253,196,000. Profund Advisors LLC purchased a new position in Paycom Software during the second quarter worth $589,000. Finally, BOKF NA raised its holdings in shares of Paycom Software by 453.0% in the first quarter. BOKF NA now owns 9,219 shares of the software maker’s stock worth $1,828,000 after acquiring an additional 7,552 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $159.79, for a total value of $311,590.50. Following the completion of the sale, the chief executive officer now owns 2,969,108 shares in the company, valued at approximately $474,433,767.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 60,450 shares of company stock worth $10,535,480 over the last quarter. 14.50% of the stock is owned by corporate insiders.

Paycom Software Stock Up 0.5 %

Shares of PAYC stock opened at $228.89 on Wednesday. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $233.69. The firm’s 50 day moving average price is $174.86 and its two-hundred day moving average price is $164.60. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 3.06 and a beta of 1.14.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors 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 yield of 0.66%. Paycom Software’s dividend payout ratio is currently 18.05%.

Analyst Ratings Changes

A number of analysts recently commented on PAYC shares. Citigroup lifted their price objective on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets upped their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. TD Cowen increased their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Finally, Piper Sandler upped their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Paycom Software has a consensus rating of “Hold” and an average target price of $193.67.

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.