Paycom Software, Inc. (NYSE:PAYC) Shares Acquired by Portside Wealth Group LLC

08 Nov 2024, 11:48 by Tristan Rich · The Markets Daily

Portside Wealth Group LLC increased its position in shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) by 70.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,527 shares of the software maker’s stock after purchasing an additional 4,773 shares during the quarter. Portside Wealth Group LLC’s holdings in Paycom Software were worth $1,920,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. acquired a new stake in Paycom Software during the 3rd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Paycom Software during the second quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new stake in Paycom Software in the second quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Paycom Software during the 2nd quarter worth about $27,000. Finally, Sentry Investment Management LLC purchased a new position in shares of Paycom Software during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Down 1.7 %

PAYC stock opened at $227.19 on Friday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $233.69. The business’s 50-day moving average is $172.24 and its 200 day moving average is $164.35. The stock has a market cap of $13.10 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.92 and a beta of 1.14.

Paycom Software Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently commented on PAYC shares. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Piper Sandler raised their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. TD Cowen raised their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, 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. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $193.67.

View Our Latest Stock Report on Paycom Software

Insider Activity at Paycom Software

In other news, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.98, for a total value 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 approximately $45,990,547.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.63, for a total transaction of $303,478.50. Following the transaction, the chief executive officer now owns 2,978,858 shares of the company’s stock, valued at approximately $463,599,670.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Craig E. Boelte sold 11,882 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the sale, the chief financial officer now owns 294,849 shares of the company’s stock, valued at approximately $45,990,547.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,382 shares of company stock valued at $11,805,199. 12.60% of the stock is owned by insiders.

About Paycom Software

(Free Report)

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.