Paycom Software, Inc. (NYSE:PAYC) Holdings Cut by Crestwood Advisors Group LLC

by · The Markets Daily

Crestwood Advisors Group LLC lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) by 11.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,588 shares of the software maker’s stock after selling 335 shares during the period. Crestwood Advisors Group LLC’s holdings in Paycom Software were worth $431,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new position in Paycom Software in the second quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new position in Paycom Software in the 2nd quarter valued at approximately $26,000. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the third quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Paycom Software during the second quarter valued at $27,000. Finally, CVA Family Office LLC boosted its stake in shares of Paycom Software by 234.3% in the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock valued at $33,000 after purchasing an additional 164 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Paycom Software

In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the transaction, the chief financial officer now owns 294,849 shares in the company, valued at approximately $45,990,547.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.98, for a total value of $1,853,354.36. Following the sale, the chief financial officer now directly owns 294,849 shares in the company, valued at approximately $45,990,547.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $216.60, for a total transaction of $422,370.00. Following the completion of the transaction, the chief executive officer now directly owns 2,743,110 shares of the company’s stock, valued at $594,157,626. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,332 shares of company stock worth $12,113,825. 12.60% of the stock is owned by insiders.

Paycom Software Stock Performance

Shares of PAYC stock opened at $231.09 on Thursday. The firm’s 50 day moving average price is $170.97 and its two-hundred day moving average price is $163.91. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $233.69. The stock has a market cap of $13.32 billion, a PE ratio of 27.81, a PEG ratio of 2.92 and a beta of 1.14.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be paid a dividend of $0.375 per share. The ex-dividend date 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 (DPR) is presently 18.05%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Mizuho lifted their price target on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday. BMO Capital Markets increased their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Finally, TD Cowen increased their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $193.67.

Check Out Our Latest Research Report on Paycom Software

Paycom Software Profile

(Free Report)

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.

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