Crossmark Global Holdings Inc. Reduces Holdings in Paycom Software, Inc. (NYSE:PAYC)

Crossmark Global Holdings Inc. trimmed its stake in Paycom Software, Inc. (NYSE:PAYC) by 35.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,592 shares of the software maker’s stock after selling 884 shares during the period. Crossmark Global Holdings Inc.’s holdings in Paycom Software were worth $265,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PAYC. Sylebra Capital LLC bought a new position in shares of Paycom Software in the 1st quarter worth about $253,196,000. Federated Hermes Inc. increased its stake in shares of Paycom Software by 1,011.2% in the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after acquiring an additional 529,591 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Paycom Software by 9,997.5% in the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after acquiring an additional 278,529 shares in the last quarter. Confluence Investment Management LLC increased its stake in shares of Paycom Software by 147.3% in the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after acquiring an additional 225,081 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of Paycom Software by 769.2% in the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after acquiring an additional 178,198 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Trading Down 2.1 %

PAYC opened at $219.88 on Monday. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.94 and a beta of 1.14. The company’s 50 day moving average is $180.24 and its 200 day moving average is $165.76. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $233.69.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $162.27, for a total transaction of $316,426.50. Following the transaction, the chief executive officer now owns 2,961,308 shares of the company’s stock, valued at $480,531,449.16. 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 through the SEC website. Insiders have sold 58,500 shares of company stock valued at $10,361,228 over the last 90 days. 14.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on PAYC. Mizuho increased their price target on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Jefferies Financial Group increased their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Citigroup raised their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets raised 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 and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and an average target price of $193.67.

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.