Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 20.6% in the 3rd quarter, Holdings Channel reports. The firm owned 2,522 shares of the software maker’s stock after purchasing an additional 430 shares during the period. Empowered Funds LLC’s holdings in Paycom Software were worth $420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Andina Capital Management LLC grew its position in shares of Paycom Software by 4.0% during the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after buying an additional 63 shares in the last quarter. Davis Investment Partners LLC grew its position in Paycom Software by 1.0% during the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock worth $1,067,000 after purchasing an additional 64 shares during the last quarter. GAMMA Investing LLC grew its position in Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after purchasing an additional 68 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Paycom Software by 1.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock valued at $661,000 after purchasing an additional 79 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Paycom Software by 37.0% in the first quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker’s stock valued at $60,000 after buying an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $160.35, for a total value of $312,682.50. Following the sale, the chief executive officer now owns 2,947,658 shares of the company’s stock, valued at $472,656,960.30. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 56,550 shares of company stock valued at $10,044,801. 14.50% of the stock is owned by insiders.

Paycom Software Trading Up 1.5 %

Shares of PAYC opened at $230.32 on Monday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $233.69. The firm has a market capitalization of $13.28 billion, a P/E ratio of 27.72, a PEG ratio of 3.04 and a beta of 1.14. The firm’s 50-day moving average is $185.75 and its two-hundred day moving average is $167.42.

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 paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.65%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is currently 18.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PAYC shares. Citigroup raised 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. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. BMO Capital Markets upped their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, Mizuho upped their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Paycom Software currently has an average rating of “Hold” and a consensus price target 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.