Confluence Investment Management LLC Buys 225,081 Shares of Paycom Software, Inc. (NYSE:PAYC)

Confluence Investment Management LLC boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 147.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 377,876 shares of the software maker’s stock after acquiring an additional 225,081 shares during the period. Confluence Investment Management LLC’s holdings in Paycom Software were worth $62,943,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Sylebra Capital LLC purchased a new position in shares of Paycom Software during the 1st quarter valued at $253,196,000. Federated Hermes Inc. lifted its holdings in Paycom Software by 1,011.2% during the second 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 boosted its position in Paycom Software by 9,997.5% during the third 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 increased its stake in shares of 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 in the last quarter. Finally, Strategic Financial Concepts LLC raised its position in shares of Paycom Software by 12,268.6% in the second quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock valued at $242,000 after purchasing an additional 167,834 shares during the period. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of PAYC stock opened at $227.19 on Friday. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $233.69. The company has a market capitalization of $13.10 billion, a P/E ratio of 27.34, a PEG ratio of 2.92 and a beta of 1.14. The stock has a 50 day moving average price of $172.24 and a two-hundred day moving average price of $164.35.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a dividend of $0.375 per share. 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 payout ratio is currently 18.05%.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Jefferies Financial Group lifted their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Citigroup boosted their price objective on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. TD Cowen lifted their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, Barclays increased 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. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and a consensus price target of $193.67.

Insiders Place Their Bets

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s 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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction on Monday, August 12th. The shares were 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 in the company, valued at approximately $45,990,547.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,382 shares of company stock valued at $11,805,199 in the last quarter. Insiders own 12.60% of the company’s stock.

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.