Icon Wealth Advisors LLC Purchases 2,790 Shares of Paycom Software, Inc. (NYSE:PAYC)

Icon Wealth Advisors LLC boosted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 36.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,390 shares of the software maker’s stock after buying an additional 2,790 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Paycom Software were worth $1,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYC. Ashton Thomas Private Wealth LLC bought a new stake in Paycom Software during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC bought a new position in Paycom Software in the 2nd quarter worth $26,000. Armstrong Advisory Group Inc. bought a new position in Paycom Software in the 3rd quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Paycom Software in the 2nd quarter worth $27,000. Finally, Brooklyn Investment Group bought a new position in Paycom Software in the 3rd quarter worth $28,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PAYC. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. BMO Capital Markets raised their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Barclays raised their price target on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Mizuho raised their price target on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Citigroup raised 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. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $193.67.

Paycom Software Trading Down 0.5 %

NYSE PAYC opened at $234.99 on Friday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $237.33. The stock has a market cap of $13.55 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 3.13 and a beta of 1.14. The company’s 50 day moving average is $190.93 and its two-hundred day moving average is $169.19.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total transaction of $446,725.50. Following the sale, the chief executive officer now owns 2,731,410 shares in the company, valued at $625,738,716.90. This trade represents 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 90 days, insiders have sold 54,600 shares of company stock worth $9,726,717. Company insiders own 14.50% of the company’s stock.

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.