Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lowered its stake in Paycom Software, Inc. (NYSE:PAYC) by 1.1% during the second quarter, Holdings Channel.com reports. The firm owned 40,354 shares of the software maker’s stock after selling 460 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Paycom Software were worth $5,772,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. ARK & TLK Investments LLC acquired a new stake in shares of Paycom Software during the 4th quarter worth about $2,260,000. Janney Montgomery Scott LLC raised its position in shares of Paycom Software by 26.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 50,315 shares of the software maker’s stock worth $10,401,000 after acquiring an additional 10,555 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Paycom Software by 29.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock worth $12,848,000 after acquiring an additional 14,670 shares in the last quarter. Norges Bank acquired a new stake in shares of Paycom Software during the 4th quarter worth about $6,670,000. Finally, Sylebra Capital LLC acquired a new stake in shares of Paycom Software during the 1st quarter worth about $253,196,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Jefferies Financial Group cut their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Barclays lifted their price target on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Finally, TD Cowen lifted their price target on Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $178.33.

Insider Activity at Paycom Software

In related news, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction that occurred 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 directly owns 294,849 shares in the company, valued at $45,990,547.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction that occurred 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 directly owns 294,849 shares in the company, valued at $45,990,547.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, June 24th. The stock was sold at an average price of $145.48, for a total value of $283,686.00. Following the transaction, the chief executive officer now directly owns 3,045,158 shares of the company’s stock, valued at $443,009,585.84. The disclosure for this sale can be found here. Insiders have sold a total of 71,906 shares of company stock worth $11,149,367 over the last three months. 14.50% of the stock is currently owned by corporate insiders.

Paycom Software Trading Up 1.1 %

Shares of PAYC stock opened at $169.38 on Friday. The business’s 50 day moving average is $159.32 and its two-hundred day moving average is $168.70. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $283.00. The company has a market capitalization of $9.73 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 2.38 and a beta of 1.17.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were paid a $0.375 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.89%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

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.