Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 11.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,639 shares of the software maker’s stock after selling 28,190 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Paycom Software were worth $37,252,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PAYC. Private Trust Co. NA boosted its position in Paycom Software by 11.2% during the 3rd quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock valued at $88,000 after purchasing an additional 53 shares during the period. Wrapmanager Inc. increased its position in Paycom Software by 2.6% in the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after buying an additional 56 shares during the period. Andina Capital Management LLC lifted its stake in Paycom Software by 4.0% in the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after buying an additional 63 shares during the last quarter. Davis Investment Partners LLC boosted its holdings in shares of Paycom Software by 1.0% during the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after acquiring an additional 64 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Paycom Software by 26.7% during the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after acquiring an additional 68 shares during the period. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Performance

Shares of PAYC stock opened at $229.88 on Wednesday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $237.33. The business’s fifty day moving average is $194.49 and its 200-day moving average is $170.20. The stock has a market cap of $13.25 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 3.09 and a beta of 1.11.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given 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 dividend payout ratio (DPR) is presently 18.05%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PAYC. Barclays lifted their price objective 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. TD Cowen lifted their price target on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Citigroup boosted their price objective on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, Piper Sandler boosted their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Twelve 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 has an average rating of “Hold” and an average price target of $193.67.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $167.31, for a total value of $326,254.50. Following the transaction, the chief executive officer now owns 2,935,958 shares of the company’s stock, valued at $491,215,132.98. The trade was a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 52,650 shares of company stock valued at $9,414,035. 12.60% of the stock is owned by insiders.

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.