Sendero Wealth Management LLC Has $9.04 Million Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Sendero Wealth Management LLC decreased its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,120 shares of the software maker’s stock after selling 2,350 shares during the period. Paycom Software comprises 1.3% of Sendero Wealth Management LLC’s portfolio, making the stock its 14th biggest position. Sendero Wealth Management LLC’s holdings in Paycom Software were worth $9,043,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PAYC. Sylebra Capital LLC boosted its holdings in Paycom Software by 0.3% during the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock worth $326,888,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC increased its stake in Paycom Software by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock worth $237,015,000 after purchasing an additional 45,404 shares in the last quarter. FMR LLC raised its holdings in Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after buying an additional 357,723 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Paycom Software by 1.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock valued at $104,524,000 after buying an additional 6,488 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Paycom Software by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock worth $81,030,000 after acquiring an additional 151,807 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the transaction, the chief executive officer now directly owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 23,400 shares of company stock valued at $4,534,725. 12.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PAYC. Citigroup upped their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Mizuho upped their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Barclays lifted their price objective 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. Finally, Piper Sandler increased their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $196.63.

Paycom Software Price Performance

Shares of PAYC opened at $205.10 on Thursday. The company has a market cap of $11.83 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 2.78 and a beta of 1.14. The firm has a 50-day moving average of $219.78 and a 200-day moving average of $183.62. Paycom Software, Inc. has a one year low of $139.50 and a one year 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 paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. Paycom Software’s dividend payout ratio is currently 18.05%.

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.