Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 26.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 172,260 shares of the software maker’s stock after selling 61,351 shares during the period. Bank of Montreal Can’s holdings in Paycom Software were worth $28,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sylebra Capital LLC raised its stake in Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after acquiring an additional 685,190 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Paycom Software by 9.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock valued at $152,925,000 after purchasing an additional 92,049 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Paycom Software by 1.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock valued at $104,524,000 after purchasing an additional 6,488 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after purchasing an additional 529,591 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Paycom Software by 45.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock valued at $81,030,000 after buying an additional 151,807 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $162.00, for a total value of $315,900.00. Following the transaction, the chief executive officer now owns 2,941,808 shares in the company, valued at approximately $476,572,896. This represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 54,600 shares of company stock valued at $9,726,717 over the last three months. 14.50% of the stock is owned by corporate insiders.

Paycom Software Trading Down 1.2 %

Shares of PAYC stock opened at $232.07 on Friday. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of 27.93, a P/E/G ratio of 3.13 and a beta of 1.14. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $237.33. The stock’s fifty day simple moving average is $192.17 and its 200-day simple moving average is $169.59.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.65%. Paycom Software’s dividend payout ratio is 18.05%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PAYC. Jefferies Financial Group upped their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Mizuho upped their target price on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. BMO Capital Markets lifted their price target on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Barclays upped their price objective on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Piper Sandler lifted their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $193.67.

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.