River Road Asset Management LLC Sells 1,092 Shares of Paycom Software, Inc. (NYSE:PAYC)

River Road Asset Management LLC lowered its position in Paycom Software, Inc. (NYSE:PAYC) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,195 shares of the software maker’s stock after selling 1,092 shares during the period. River Road Asset Management LLC’s holdings in Paycom Software were worth $10,526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sylebra Capital LLC bought a new stake in Paycom Software during the first quarter worth about $253,196,000. Federated Hermes Inc. boosted its position in shares of Paycom Software by 1,011.2% in the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after purchasing an additional 529,591 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Paycom Software by 9,997.5% in the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after purchasing an additional 278,529 shares in the last quarter. Raymond James & Associates grew its stake in shares of Paycom Software by 769.2% in the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after buying an additional 178,198 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its position in Paycom Software by 12,268.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock valued at $242,000 after buying an additional 167,834 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $211.76, for a total transaction of $412,932.00. Following the completion of the sale, the chief executive officer now directly owns 2,745,060 shares in the company, valued at $581,293,905.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, November 4th. The shares were sold at an average price of $211.76, for a total transaction of $412,932.00. Following the transaction, the chief executive officer now owns 2,745,060 shares in the company, valued at $581,293,905.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the sale, the insider now owns 14,769 shares of the company’s stock, valued at $2,327,889.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,906 shares of company stock valued at $11,931,668. 12.60% of the stock is owned by company insiders.

Paycom Software Trading Up 3.3 %

Shares of PAYC opened at $218.48 on Wednesday. The firm has a fifty day simple moving average of $169.61 and a two-hundred day simple moving average of $163.43. The firm has a market cap of $12.55 billion, a PE ratio of 26.29, a P/E/G ratio of 2.91 and a beta of 1.14. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $222.30.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PAYC shares. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Piper Sandler increased their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays lifted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Citigroup increased their price target on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” 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 report on Monday, September 23rd. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus 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.