Brighton Jones LLC Buys Shares of 3,110 Paycom Software, Inc. (NYSE:PAYC)

Brighton Jones LLC purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 4th quarter, Holdings Channel reports. The firm purchased 3,110 shares of the software maker’s stock, valued at approximately $638,000.

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

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $167.37, for a total transaction of $326,371.50. Following the transaction, the chief executive officer now owns 2,754,810 shares of the company’s stock, valued at approximately $461,072,549.70. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 15,600 shares of company stock worth $3,240,510 over the last three months. 14.50% of the stock is currently owned by insiders.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $207.52 on Friday. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The company has a market cap of $11.97 billion, a P/E ratio of 24.97, a P/E/G ratio of 2.85 and a beta of 1.14. The stock’s 50-day moving average is $217.17 and its 200-day moving average is $186.85.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup cut their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays cut their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday. Piper Sandler raised their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, BMO Capital Markets upped their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $204.75.

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.