Swiss National Bank Sells 200 Shares of Paycom Software, Inc. (NYSE:PAYC)

Swiss National Bank decreased its position in Paycom Software, Inc. (NYSE:PAYC) by 0.1% during the third quarter, HoldingsChannel.com reports. The fund owned 151,400 shares of the software maker’s stock after selling 200 shares during the quarter. Swiss National Bank’s holdings in Paycom Software were worth $25,219,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PAYC. Ashton Thomas Private Wealth LLC bought a new position in shares of Paycom Software in the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $26,000. Armstrong Advisory Group Inc. purchased a new position in shares of Paycom Software in the 3rd quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Paycom Software during the 2nd quarter valued at approximately $27,000. Finally, CVA Family Office LLC raised its holdings in Paycom Software by 234.3% during the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock valued at $33,000 after buying an additional 164 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total transaction of $312,682.50. Following the completion of the sale, the chief executive officer now owns 2,947,658 shares in the company, valued at $472,656,960.30. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 56,550 shares of company stock worth $10,044,801 in the last three months. Corporate insiders own 14.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group lifted their price objective 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. BMO Capital Markets increased their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. TD Cowen increased their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Finally, Barclays boosted their price objective on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $193.67.

Paycom Software Stock Up 3.2 %

Shares of NYSE PAYC opened at $226.90 on Friday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $233.69. The firm has a market cap of $13.08 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 2.90 and a beta of 1.14. The business has a fifty day simple moving average of $183.34 and a two-hundred day simple moving average of $166.68.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued 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 payout ratio is currently 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.