US Bancorp DE lessened its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 21.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,872 shares of the software maker's stock after selling 3,191 shares during the period. US Bancorp DE's holdings in Paycom Software were worth $1,978,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Sylebra Capital LLC purchased a new position in Paycom Software during the first quarter worth $253,196,000. Federated Hermes Inc. grew its holdings in Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker's stock valued at $83,244,000 after purchasing an additional 529,591 shares during the last quarter. International Assets Investment Management LLC raised its position in Paycom Software by 9,997.5% in the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker's stock worth $46,859,000 after purchasing an additional 278,529 shares during the period. Raymond James & Associates lifted its stake in Paycom Software by 769.2% in the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker's stock worth $28,803,000 after purchasing an additional 178,198 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its position in shares of Paycom Software by 12,268.6% during the second quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker's stock valued at $242,000 after buying an additional 167,834 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.
A number of brokerages recently issued reports on PAYC. StockNews.com lowered Paycom Software from a "buy" rating to a "hold" rating in a research note on Monday, July 15th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday, August 1st. Barclays upped their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. BMO Capital Markets lifted their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a report on Thursday, October 31st. Finally, Citigroup raised their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $193.67.
View Our Latest Stock Report on Paycom Software
In other news, CEO Chad R. Richison sold 1,950 shares of the business's 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 sale, the chief executive officer now owns 2,978,858 shares in the company, valued at approximately $463,599,670.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 294,849 shares of the company's stock, valued at approximately $45,990,547.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.63, for a total value of $303,478.50. Following the sale, the chief executive officer now owns 2,978,858 shares in the company, valued at approximately $463,599,670.54. The trade was 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 in the last ninety days. Corporate insiders own 12.60% of the company's stock.
Shares of PAYC opened at $231.09 on Thursday. The company has a 50 day moving average of $170.97 and a two-hundred day moving average of $163.91. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 2.92 and a beta of 1.14. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $233.69.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be paid a dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.65%. Paycom Software's dividend payout ratio (DPR) is 18.05%.
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.
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