Integrated Wealth Concepts LLC Invests $206,000 in Paycom Software, Inc. (NYSE:PAYC)

Integrated Wealth Concepts LLC purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 1,237 shares of the software maker’s stock, valued at approximately $206,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in Paycom Software during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in Paycom Software during the second quarter worth $26,000. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the third quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Paycom Software in the second quarter worth $27,000. Finally, Brooklyn Investment Group acquired a new stake in Paycom Software in the third quarter valued at $28,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PAYC. Citigroup increased their price target on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. TD Cowen lifted their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Jefferies Financial Group upped their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Barclays lifted their price objective on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets upped their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $202.56.

Paycom Software Stock Performance

Paycom Software stock opened at $234.50 on Friday. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The stock has a fifty day moving average of $204.13 and a two-hundred day moving average of $173.15. The company has a market capitalization of $13.52 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 3.20 and a beta of 1.11.

Paycom Software Dividend Announcement

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

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the transaction, the chief executive officer now owns 2,731,410 shares of the company’s stock, valued at $625,738,716.90. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 48,750 shares of company stock worth $8,771,880. Corporate insiders own 14.50% of the company’s stock.

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.