Qsemble Capital Management LP Lowers Position in Paycom Software, Inc. (NYSE:PAYC)

Qsemble Capital Management LP decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 65.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,688 shares of the software maker’s stock after selling 3,157 shares during the period. Qsemble Capital Management LP’s holdings in Paycom Software were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Associated Banc Corp increased its stake in shares of Paycom Software by 33.2% during the third quarter. Associated Banc Corp now owns 146,020 shares of the software maker’s stock valued at $24,323,000 after purchasing an additional 36,431 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Paycom Software by 11.2% during the third quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock valued at $88,000 after purchasing an additional 53 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Paycom Software by 32.8% during the third quarter. Dynamic Technology Lab Private Ltd now owns 13,085 shares of the software maker’s stock valued at $2,180,000 after purchasing an additional 3,235 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Paycom Software by 3.5% during the third quarter. Daiwa Securities Group Inc. now owns 18,204 shares of the software maker’s stock valued at $3,032,000 after purchasing an additional 611 shares in the last quarter. Finally, Summit Trail Advisors LLC bought a new position in shares of Paycom Software during the third quarter valued at approximately $377,000. Institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. 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. BMO Capital Markets raised their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. TD Cowen raised their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Jefferies Financial Group raised their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $193.67.

Insider Buying and Selling

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $160.35, for a total transaction of $312,682.50. Following the transaction, the chief executive officer now owns 2,947,658 shares in the company, valued at $472,656,960.30. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 54,600 shares of company stock worth $9,726,717. 12.60% of the stock is owned by insiders.

Paycom Software Trading Down 0.5 %

Shares of PAYC stock opened at $235.06 on Thursday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $237.33. The firm’s 50 day moving average is $189.69 and its 200 day moving average is $168.73. The stock has a market capitalization of $13.55 billion, a P/E ratio of 28.29, a P/E/G ratio of 3.12 and a beta of 1.14.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

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.