Paycom Software, Inc. (NYSE:PAYC) Stake Boosted by Cerity Partners LLC

Cerity Partners LLC increased its stake in Paycom Software, Inc. (NYSE:PAYC) by 24.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,694 shares of the software maker’s stock after purchasing an additional 2,073 shares during the period. Cerity Partners LLC’s holdings in Paycom Software were worth $1,781,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the 3rd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paycom Software during the second quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in Paycom Software in the 2nd quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Paycom Software in the 2nd quarter valued at approximately $27,000. Finally, First Horizon Advisors Inc. raised its stake in Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Up 0.2 %

Shares of NYSE PAYC opened at $232.41 on Tuesday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $237.33. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 3.09 and a beta of 1.14. The business has a fifty day simple moving average of $193.36 and a 200-day simple moving average of $169.87.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on 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 of the company’s stock, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 54,600 shares of company stock valued at $9,726,717 over the last ninety days. Corporate insiders own 14.50% of the company’s stock.

Analyst Ratings Changes

PAYC has been the subject of several recent analyst reports. Jefferies Financial Group increased their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Citigroup raised their target price on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their price target on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Mizuho increased their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Barclays boosted their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average price target of $193.67.

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.