Jacksonville Wealth Management LLC Makes New $394,000 Investment in Paycom Software, Inc. (NYSE:PAYC)

Jacksonville Wealth Management LLC bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,920 shares of the software maker’s stock, valued at approximately $394,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Armstrong Advisory Group Inc. bought a new position in Paycom Software during the 3rd quarter worth $26,000. Brooklyn Investment Group acquired a new position in shares of Paycom Software during the third quarter valued at $28,000. Pin Oak Investment Advisors Inc. grew its position in shares of Paycom Software by 73.3% during the third 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 last quarter. First Horizon Advisors Inc. increased its holdings in shares of 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 period. Finally, Blue Trust Inc. lifted its position in Paycom Software by 277.1% in the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after purchasing an additional 194 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on PAYC. Mizuho upped their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. TD Cowen boosted their price target on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Barclays decreased their price target on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, BMO Capital Markets lifted their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $204.75.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total transaction of $446,725.50. Following the sale, the chief executive officer now directly owns 2,731,410 shares of the company’s stock, valued at $625,738,716.90. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 15,600 shares of company stock valued at $3,240,510 over the last ninety days. Insiders own 14.50% of the company’s stock.

Paycom Software Trading Up 1.1 %

Shares of Paycom Software stock opened at $207.52 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The stock has a market cap of $11.97 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 2.85 and a beta of 1.14. The company’s 50-day moving average price is $217.17 and its two-hundred day moving average price is $186.85.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were issued a $0.375 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. Paycom Software’s payout ratio 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.