Verdence Capital Advisors LLC Buys 3,514 Shares of Paycom Software, Inc. (NYSE:PAYC)

Verdence Capital Advisors LLC increased its stake in Paycom Software, Inc. (NYSE:PAYC) by 90.1% during the third quarter, HoldingsChannel reports. The firm owned 7,414 shares of the software maker’s stock after acquiring an additional 3,514 shares during the period. Verdence Capital Advisors LLC’s holdings in Paycom Software were worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its position 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 worth $444,000 after buying an additional 905 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Paycom Software by 29.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after acquiring an additional 14,670 shares during the period. Sylebra Capital LLC purchased a new stake in Paycom Software during the first quarter valued at about $253,196,000. Profund Advisors LLC bought a new position in Paycom Software during the second quarter worth about $589,000. Finally, BOKF NA boosted its position in Paycom Software by 453.0% during the first quarter. BOKF NA now owns 9,219 shares of the software maker’s stock worth $1,828,000 after purchasing an additional 7,552 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PAYC. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays boosted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. TD Cowen raised their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Mizuho boosted their price objective on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Citigroup increased their price objective on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $193.67.

Paycom Software Stock Up 0.7 %

Shares of NYSE PAYC opened at $228.75 on Friday. The stock’s 50-day simple moving average is $173.56 and its two-hundred day simple moving average is $164.47. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $233.69. The firm has a market capitalization of $13.19 billion, a P/E ratio of 27.53, a P/E/G ratio of 3.09 and a beta of 1.14.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $155.63, for a total value of $303,478.50. Following the completion of the transaction, the chief executive officer now owns 2,978,858 shares of the company’s stock, valued at $463,599,670.54. The trade was 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. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, August 12th. The stock was 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 $463,599,670.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Craig E. Boelte sold 11,882 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the transaction, the chief financial officer now owns 294,849 shares of the company’s stock, valued at $45,990,547.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,382 shares of company stock valued at $11,805,199 over the last three months. 14.50% of the stock is owned by corporate insiders.

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.