Farther Finance Advisors LLC Grows Position in Paycom Software, Inc. (NYSE:PAYC)

Farther Finance Advisors LLC grew its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 22.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 602 shares of the software maker’s stock after purchasing an additional 112 shares during the period. Farther Finance Advisors LLC’s holdings in Paycom Software were worth $100,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PAYC. Forsta AP Fonden purchased a new stake in Paycom Software during the first quarter worth approximately $2,408,000. Sei Investments Co. boosted its stake in shares of Paycom Software by 68.4% in the first quarter. Sei Investments Co. now owns 165,340 shares of the software maker’s stock valued at $32,904,000 after purchasing an additional 67,163 shares during the period. Headlands Technologies LLC boosted its stake in shares of Paycom Software by 107.8% in the first quarter. Headlands Technologies LLC now owns 663 shares of the software maker’s stock valued at $132,000 after purchasing an additional 344 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Paycom Software by 13.3% in the first quarter. QRG Capital Management Inc. now owns 2,225 shares of the software maker’s stock valued at $443,000 after purchasing an additional 261 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Paycom Software by 66.1% in the first quarter. Russell Investments Group Ltd. now owns 53,051 shares of the software maker’s stock valued at $10,552,000 after purchasing an additional 21,108 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the subject 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 company a “hold” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their target price 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. Barclays increased 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. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average target price of $193.67.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $159.79, for a total transaction of $311,590.50. Following the sale, the chief executive officer now owns 2,969,108 shares in the company, valued at $474,433,767.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders sold 56,550 shares of company stock worth $9,648,366. 14.50% of the stock is owned by company insiders.

Paycom Software Stock Down 0.5 %

Paycom Software stock opened at $227.70 on Tuesday. The stock has a 50-day simple moving average of $173.56 and a 200 day simple moving average of $164.31. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 3.06 and a beta of 1.14. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $233.69.

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 given a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. Paycom Software’s dividend payout ratio is presently 18.05%.

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.