US Bancorp DE Trims Stock Position in Paycom Software, Inc. (NYSE:PAYC)

US Bancorp DE trimmed its holdings in Paycom Software, Inc. (NYSE:PAYC) by 21.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,872 shares of the software maker’s stock after selling 3,191 shares during the quarter. US Bancorp DE’s holdings in Paycom Software were worth $1,978,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYC. Norden Group LLC grew its holdings in Paycom Software by 13.6% during the first quarter. Norden Group LLC now owns 3,220 shares of the software maker’s stock worth $641,000 after acquiring an additional 385 shares during the period. Private Advisor Group LLC grew its stake in shares of Paycom Software by 10.9% during the 1st quarter. Private Advisor Group LLC now owns 2,796 shares of the software maker’s stock worth $556,000 after purchasing an additional 274 shares during the period. Chevy Chase Trust Holdings LLC grew its stake in shares of Paycom Software by 1.2% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 28,055 shares of the software maker’s stock worth $5,583,000 after purchasing an additional 338 shares during the period. Empirical Finance LLC increased its holdings in shares of Paycom Software by 3.9% during the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock valued at $314,000 after purchasing an additional 60 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Paycom Software by 27.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 48,158 shares of the software maker’s stock valued at $9,584,000 after purchasing an additional 10,311 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Performance

Shares of PAYC opened at $231.09 on Thursday. The stock has a 50 day moving average price of $170.97 and a 200 day moving average price of $163.91. The stock has a market capitalization of $13.32 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 2.92 and a beta of 1.14. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $233.69.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler raised their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. TD Cowen raised their target price on Paycom Software from $171.00 to $188.00 and gave the company 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 report on Thursday, October 31st. Citigroup increased their price target on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. 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, the company presently has an average rating of “Hold” and a consensus target price of $193.67.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $216.60, for a total transaction of $422,370.00. Following the completion of the sale, the chief executive officer now owns 2,743,110 shares of the company’s stock, valued at approximately $594,157,626. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $216.60, for a total transaction of $422,370.00. Following the transaction, the chief executive officer now owns 2,743,110 shares of the company’s stock, valued at approximately $594,157,626. 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 firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 294,849 shares of the company’s stock, valued at $45,990,547.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,332 shares of company stock valued at $12,113,825. Corporate insiders own 12.60% of the company’s stock.

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.