Fisher Asset Management LLC Sells 742 Shares of Paycom Software, Inc. (NYSE:PAYC)

Fisher Asset Management LLC lessened its position in Paycom Software, Inc. (NYSE:PAYC) by 0.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 79,368 shares of the software maker’s stock after selling 742 shares during the period. Fisher Asset Management LLC’s holdings in Paycom Software were worth $13,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. lifted its stake in shares of Paycom Software by 3.5% in the third quarter. Daiwa Securities Group Inc. now owns 18,204 shares of the software maker’s stock worth $3,032,000 after buying an additional 611 shares in the last quarter. Summit Trail Advisors LLC bought a new position in shares of Paycom Software in the third quarter worth approximately $377,000. Kingsview Wealth Management LLC lifted its stake in shares of Paycom Software by 3.9% in the third quarter. Kingsview Wealth Management LLC now owns 2,293 shares of the software maker’s stock worth $382,000 after buying an additional 86 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Paycom Software by 24.0% in the third quarter. Cerity Partners LLC now owns 10,694 shares of the software maker’s stock worth $1,781,000 after buying an additional 2,073 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its stake in shares of Paycom Software by 9.1% in the third quarter. Raymond James Trust N.A. now owns 2,512 shares of the software maker’s stock worth $418,000 after buying an additional 209 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $235.06 on Thursday. The firm has a fifty day moving average price of $189.69 and a 200-day moving average price of $168.73. The stock has a market cap of $13.55 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 3.12 and a beta of 1.14. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $237.33.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $162.00, for a total value of $315,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,941,808 shares of the company’s stock, valued at $476,572,896. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 54,600 shares of company stock valued at $9,726,717 over the last three months. Corporate insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

PAYC has been the topic of several analyst reports. Jefferies Financial Group upped their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Mizuho boosted 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. Piper Sandler boosted their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, TD Cowen boosted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $193.67.

Paycom Software Company 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.