Edgestream Partners L.P. Sells 8,218 Shares of Paycom Software, Inc. (NYSE:PAYC)

Edgestream Partners L.P. cut its stake in Paycom Software, Inc. (NYSE:PAYC) by 57.1% in the third quarter, HoldingsChannel.com reports. The fund owned 6,181 shares of the software maker’s stock after selling 8,218 shares during the period. Edgestream Partners L.P.’s holdings in Paycom Software were worth $1,030,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Armstrong Advisory Group Inc. bought a new stake in Paycom Software during the 3rd quarter worth approximately $26,000. Brooklyn Investment Group bought a new stake in Paycom Software during the 3rd quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC bought a new stake in Paycom Software during the 2nd quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. increased its stake in 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 purchasing an additional 77 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new stake in Paycom Software during the 2nd quarter worth approximately $26,000. 87.77% of the stock is owned by institutional investors.

Paycom Software Trading Up 0.8 %

NYSE PAYC opened at $231.74 on Thursday. The company has a market cap of $13.36 billion, a PE ratio of 27.89, a PEG ratio of 3.09 and a beta of 1.11. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $237.33. The stock has a 50 day moving average of $195.77 and a 200-day moving average of $170.63.

Paycom Software Dividend Announcement

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

Analysts Set New Price Targets

PAYC has been the subject of a number of research reports. Citigroup increased their target price on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen upped their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Barclays upped their price target on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. BMO Capital Markets upped their price target 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 upped their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. 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 stock has an average rating of “Hold” and an average target price of $193.67.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $167.31, for a total transaction of $326,254.50. Following the completion of the sale, the chief executive officer now owns 2,935,958 shares of the company’s stock, valued at $491,215,132.98. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 52,650 shares of company stock valued at $9,414,035 in the last quarter. 12.60% of the stock is currently owned by insiders.

Paycom Software Company 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.