Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Planning Capital Management Corp

Planning Capital Management Corp reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 53.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 248 shares of the software maker’s stock after selling 289 shares during the quarter. Planning Capital Management Corp’s holdings in Paycom Software were worth $41,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PAYC. Andina Capital Management LLC lifted its position in Paycom Software by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after buying an additional 63 shares in the last quarter. Davis Investment Partners LLC boosted its position in shares of Paycom Software by 1.0% during the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after acquiring an additional 64 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after purchasing an additional 68 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Paycom Software by 1.7% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock valued at $661,000 after purchasing an additional 79 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Paycom Software by 37.0% in the first quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker’s stock worth $60,000 after acquiring an additional 81 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $162.27, for a total value of $316,426.50. Following the transaction, the chief executive officer now owns 2,961,308 shares of the company’s stock, valued at $480,531,449.16. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 60,450 shares of company stock valued at $10,672,818. 14.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Citigroup lifted their price target 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. BMO Capital Markets boosted 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. Barclays boosted 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, TD Cowen boosted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $193.67.

Paycom Software Trading Down 1.4 %

PAYC opened at $224.62 on Friday. The company has a market cap of $12.95 billion, a P/E ratio of 27.03, a P/E/G ratio of 3.05 and a beta of 1.14. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $233.69. The business’s 50-day moving average price is $177.57 and its 200-day moving average price is $165.32.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.67%. Paycom Software’s payout ratio is presently 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.