Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Commerce Bank

Commerce Bank lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,380 shares of the software maker’s stock after selling 45 shares during the period. Commerce Bank’s holdings in Paycom Software were worth $563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. acquired a new stake in Paycom Software in the 3rd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paycom Software in the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Paycom Software in the second quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Paycom Software during the second quarter worth approximately $27,000. Finally, Sentry Investment Management LLC acquired a new position in Paycom Software during the second quarter worth $33,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $160.35, for a total value of $312,682.50. Following the completion of the transaction, the chief executive officer now owns 2,947,658 shares of the company’s stock, valued at $472,656,960.30. 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 link. Insiders sold 54,600 shares of company stock worth $9,726,717 in the last three months. 14.50% of the stock is owned by company insiders.

Paycom Software Stock Up 0.7 %

NYSE:PAYC opened at $236.20 on Wednesday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $236.75. The stock’s fifty day moving average is $188.41 and its two-hundred day moving average is $168.26. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 3.07 and a beta of 1.14.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Analyst Ratings Changes

Several research firms have recently commented on PAYC. Citigroup lifted their price target on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted 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. Piper Sandler increased their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. TD Cowen lifted their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, Barclays increased their price objective on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and a consensus target price 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.