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

Victory Capital Management Inc. lowered its position in Paycom Software, Inc. (NYSE:PAYC) by 44.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,628 shares of the software maker’s stock after selling 6,227 shares during the period. Victory Capital Management Inc.’s holdings in Paycom Software were worth $1,271,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PAYC. Ashton Thomas Private Wealth LLC acquired a new stake in Paycom Software in the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Paycom Software in the second quarter worth approximately $26,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Paycom Software during the third quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Paycom Software in the 2nd quarter valued at $27,000. Finally, CVA Family Office LLC lifted its holdings in Paycom Software by 234.3% in the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock valued at $33,000 after purchasing an additional 164 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAYC has been the topic of several analyst reports. Piper Sandler lifted their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays boosted their target price 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. BMO Capital Markets raised their price target on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Mizuho upped their price objective on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group raised their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $193.67.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $236.20 on Wednesday. The firm has a 50 day simple moving average of $188.41 and a 200 day simple moving average of $168.26. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $236.75. The company has a market cap of $13.62 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 3.07 and a beta of 1.14.

Paycom Software Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio is presently 18.05%.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 54,600 shares of company stock valued at $9,726,717 over the last three months. 14.50% of the stock is currently owned by insiders.

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.