Mendota Financial Group LLC Cuts Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Mendota Financial Group LLC cut its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 32.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 737 shares of the software maker’s stock after selling 353 shares during the quarter. Mendota Financial Group LLC’s holdings in Paycom Software were worth $151,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PAYC. Ashton Thomas Private Wealth LLC purchased a new position in Paycom Software in the second quarter valued at approximately $25,000. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software in the third quarter valued at $26,000. Brooklyn Investment Group purchased a new position in shares of Paycom Software during the 3rd quarter valued at $28,000. Pin Oak Investment Advisors Inc. grew its stake in shares of Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after acquiring an additional 189 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total transaction of $446,725.50. Following the transaction, the chief executive officer now directly owns 2,731,410 shares of the company’s stock, valued at approximately $625,738,716.90. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 25,350 shares of company stock valued at $4,853,570 in the last quarter. Corporate insiders own 14.50% of the company’s stock.

Paycom Software Stock Down 0.6 %

NYSE:PAYC opened at $200.75 on Tuesday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The stock has a market cap of $11.58 billion, a P/E ratio of 24.16, a PEG ratio of 3.12 and a beta of 1.14. The business’s 50-day moving average price is $220.61 and its two-hundred day moving average price is $183.05.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were given a dividend of $0.375 per share. The ex-dividend date was Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.75%. Paycom Software’s payout ratio is presently 18.05%.

Analyst Ratings Changes

PAYC has been the topic of several recent research reports. Citigroup upped their price objective 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. TD Cowen upped their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. 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 note on Thursday, October 31st. BMO Capital Markets increased 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. Finally, Jefferies Financial Group lifted their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $196.63.

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.