SpiderRock Advisors LLC Acquires Shares of 3,331 Paycom Software, Inc. (NYSE:PAYC)

SpiderRock Advisors LLC acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 3,331 shares of the software maker’s stock, valued at approximately $555,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ashton Thomas Private Wealth LLC acquired a new stake in Paycom Software in the second quarter worth $25,000. MFA Wealth Advisors LLC bought a new position in Paycom Software during the second quarter valued at about $26,000. Armstrong Advisory Group Inc. acquired a new stake in Paycom Software during the third quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Paycom Software during the 2nd quarter valued at $27,000. Finally, CVA Family Office LLC increased its stake in Paycom Software by 234.3% in the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Piper Sandler lifted their price objective 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. BMO Capital Markets upped their price objective 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. Finally, Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $193.67.

Insiders Place Their Bets

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

Paycom Software Stock Down 0.5 %

Shares of NYSE PAYC opened at $227.70 on Tuesday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $233.69. The company has a market cap of $13.13 billion, a P/E ratio of 27.40, a P/E/G ratio of 3.06 and a beta of 1.14. The business’s 50 day moving average is $173.56 and its two-hundred day moving average is $164.31.

Paycom Software Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.66%. Paycom Software’s dividend payout ratio is 18.05%.

Paycom Software 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.