Bridgewater Associates LP Decreases Position in Paycom Software, Inc. (NYSE:PAYC)

Bridgewater Associates LP trimmed its stake in Paycom Software, Inc. (NYSE:PAYC) by 71.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,686 shares of the software maker’s stock after selling 11,673 shares during the period. Bridgewater Associates LP’s holdings in Paycom Software were worth $781,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Private Trust Co. NA lifted its position in Paycom Software by 11.2% in the third quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock worth $88,000 after buying an additional 53 shares during the last quarter. Wrapmanager Inc. lifted its holdings in shares of Paycom Software by 2.6% in the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after acquiring an additional 56 shares during the last quarter. Andina Capital Management LLC lifted its holdings in shares of Paycom Software by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after acquiring an additional 63 shares during the last quarter. Davis Investment Partners LLC boosted its stake in shares of Paycom Software by 1.0% during the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock worth $1,067,000 after purchasing an additional 64 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $162.00, for a total transaction of $315,900.00. Following the sale, the chief executive officer now owns 2,941,808 shares of the company’s stock, valued at $476,572,896. This trade represents 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 this link. Insiders sold 54,600 shares of company stock valued at $9,726,717 over the last 90 days. Corporate insiders own 14.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PAYC. BMO Capital Markets boosted their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Mizuho boosted their price objective on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Jefferies Financial Group increased their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Citigroup boosted their target price 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, Piper Sandler raised their price target 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. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $193.67.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $232.41 on Tuesday. The stock has a market cap of $13.40 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.09 and a beta of 1.14. The firm’s 50-day moving average is $193.36 and its two-hundred day moving average is $169.87. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $237.33.

Paycom Software Dividend Announcement

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

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.