Tidal Investments LLC Has $2.77 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Tidal Investments LLC reduced its holdings in Paycom Software, Inc. (NYSE:PAYC) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 16,619 shares of the software maker’s stock after selling 602 shares during the quarter. Tidal Investments LLC’s holdings in Paycom Software were worth $2,768,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paycom Software in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Paycom Software during the second quarter valued at about $26,000. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the 3rd quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Paycom Software in the second quarter valued at approximately $27,000. Finally, Brooklyn Investment Group bought a new position in shares of Paycom Software in the 3rd quarter worth $28,000. Institutional investors own 87.77% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $162.17, for a total transaction of $316,231.50. Following the completion of the transaction, the chief executive officer now directly owns 2,780,160 shares in the company, valued at $450,858,547.20. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 46,800 shares of company stock worth $8,439,854 in the last quarter. 14.50% of the stock is owned by company insiders.

Paycom Software Trading Down 2.3 %

Shares of PAYC stock opened at $234.50 on Monday. The firm’s 50 day moving average is $205.46 and its 200 day moving average is $173.64. The stock has a market capitalization of $13.52 billion, a P/E ratio of 28.22, a PEG ratio of 3.12 and a beta of 1.11. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of analyst reports. Piper Sandler lifted 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. Citigroup increased their price target on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays lifted their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. BMO Capital Markets upped their price objective on shares of 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, Mizuho boosted their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $202.56.

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.