Worldquant Millennium Advisors LLC decreased its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 67.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 34,540 shares of the software maker's stock after selling 72,575 shares during the quarter. Worldquant Millennium Advisors LLC owned 0.06% of Paycom Software worth $5,753,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in Paycom Software during the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC bought a new stake in Paycom Software during the 2nd quarter worth about $26,000. Armstrong Advisory Group Inc. bought a new stake in Paycom Software during the 3rd quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Paycom Software during the 2nd quarter worth about $27,000. Finally, Brooklyn Investment Group bought a new stake in Paycom Software during the 3rd quarter worth about $28,000. Institutional investors own 87.77% of the company's stock.
A number of equities research analysts have commented on PAYC shares. Jefferies Financial Group increased their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. Mizuho increased their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Barclays increased their price objective 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. BMO Capital Markets raised their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a research note on Thursday, October 31st. Finally, TD Cowen raised their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a "hold" rating in a research note on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $193.67.
Read Our Latest Stock Analysis on Paycom Software
In other news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $162.00, for a total transaction of $315,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,941,808 shares of the company's stock, valued at $476,572,896. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 52,650 shares of company stock worth $9,414,035. Company insiders own 14.50% of the company's stock.
Shares of PAYC stock opened at $236.48 on Friday. The company has a market capitalization of $13.64 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 3.09 and a beta of 1.11. The company's 50 day moving average price is $198.43 and its two-hundred day moving average price is $171.39. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $238.18.
The business 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 dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.63%. Paycom Software's dividend payout ratio (DPR) is currently 18.05%.
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.
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