International Assets Investment Management LLC Reduces Position in Paycom Software, Inc. (NYSE:PAYC)

International Assets Investment Management LLC decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 99.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,491 shares of the software maker’s stock after selling 279,824 shares during the quarter. International Assets Investment Management LLC’s holdings in Paycom Software were worth $300,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. One Wealth Capital Management LLC purchased a new stake in shares of Paycom Software in the fourth quarter valued at about $394,000. Regent Peak Wealth Advisors LLC acquired a new position in Paycom Software in the fourth quarter valued at about $220,000. Nordea Investment Management AB lifted its position in Paycom Software by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock valued at $41,952,000 after buying an additional 6,916 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Paycom Software in the fourth quarter valued at about $314,000. Finally, GAMMA Investing LLC lifted its position in Paycom Software by 81.1% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the software maker’s stock valued at $120,000 after buying an additional 262 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

PAYC has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Jefferies Financial Group increased their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Mizuho increased their price target on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, TD Cowen increased their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average target price of $196.63.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $163.51, for a total value of $318,844.50. Following the transaction, the chief executive officer now directly owns 2,770,410 shares in the company, valued at $452,989,739.10. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 25,350 shares of company stock valued at $4,853,570 over the last 90 days. 14.50% of the stock is owned by corporate insiders.

Paycom Software Stock Up 1.5 %

Shares of NYSE:PAYC opened at $202.41 on Monday. The firm’s 50 day moving average price is $220.82 and its 200 day moving average price is $182.63. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.12 and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

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 issued a $0.375 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.74%. Paycom Software’s dividend payout ratio (DPR) 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.