B. Riley Wealth Advisors Inc. Sells 604 Shares of Paycom Software, Inc. (NYSE:PAYC)

B. Riley Wealth Advisors Inc. lowered its stake in Paycom Software, Inc. (NYSE:PAYC) by 30.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,405 shares of the software maker’s stock after selling 604 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Paycom Software were worth $234,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC increased 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 purchasing an additional 905 shares in the last quarter. Profund Advisors LLC bought a new stake in Paycom Software in the 2nd quarter valued at about $589,000. Sylebra Capital LLC raised its stake in Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after buying an additional 685,190 shares during the period. Principal Financial Group Inc. boosted its holdings in Paycom Software by 9.3% in the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after acquiring an additional 5,574 shares in the last quarter. Finally, SpiderRock Advisors LLC acquired a new stake in Paycom Software in the third quarter valued at approximately $555,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total transaction of $446,725.50. Following the completion of the sale, the chief executive officer now owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 42,900 shares of company stock worth $7,774,826 in the last ninety days. Company insiders own 14.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PAYC shares. TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Jefferies Financial Group raised their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Mizuho boosted their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Citigroup raised their price target on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Piper Sandler boosted their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software presently has an average rating of “Hold” and a consensus target price of $202.56.

Paycom Software Stock Up 0.1 %

PAYC stock opened at $207.23 on Friday. The firm has a market cap of $11.95 billion, a PE ratio of 24.94, a P/E/G ratio of 3.12 and a beta of 1.11. The business has a 50 day moving average of $210.96 and a 200-day moving average of $175.94. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74.

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 given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Monday, November 25th. Paycom Software’s dividend payout ratio is presently 18.05%.

Paycom Software 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.