Verdence Capital Advisors LLC Purchases 3,514 Shares of Paycom Software, Inc. (NYSE:PAYC)

Verdence Capital Advisors LLC grew its position in Paycom Software, Inc. (NYSE:PAYC) by 90.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,414 shares of the software maker’s stock after purchasing an additional 3,514 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Paycom Software were worth $1,235,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PAYC. Sylebra Capital LLC boosted its position in Paycom Software by 53.9% during the second 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 during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Paycom Software by 9.4% during the 2nd 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. grew its stake in Paycom Software by 14.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock worth $124,709,000 after purchasing an additional 79,299 shares during the period. Federated Hermes Inc. increased 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Paycom Software by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker’s stock valued at $65,122,000 after buying an additional 26,934 shares during the period. 87.77% of the stock is currently 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 Paycom Software stock in a transaction on Monday, August 12th. The shares were 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 directly owns 294,849 shares of the company’s stock, valued at $45,990,547.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $216.60, for a total transaction of $422,370.00. Following the completion of the sale, the chief executive officer now directly owns 2,743,110 shares of the company’s stock, valued at approximately $594,157,626. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction on Monday, August 12th. The stock was 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 owns 294,849 shares in the company, valued at $45,990,547.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 70,382 shares of company stock valued at $11,805,199. 14.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PAYC shares. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. BMO Capital Markets raised their price target 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. Piper Sandler upped their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Finally, Citigroup boosted their target price on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research 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 stock. According to MarketBeat.com, Paycom Software has an average rating of “Hold” and an average target price of $193.67.

Paycom Software Stock Performance

Shares of PAYC opened at $228.75 on Friday. The firm has a market capitalization of $13.19 billion, a P/E ratio of 27.53, a P/E/G ratio of 3.09 and a beta of 1.14. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $233.69. The stock has a 50 day moving average price of $173.56 and a two-hundred day moving average price of $164.47.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.66%. Paycom Software’s dividend payout ratio (DPR) is currently 18.05%.

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.