Franklin Resources Inc. Sells 17,082 Shares of Paycom Software, Inc. (NYSE:PAYC)

Franklin Resources Inc. lessened its stake in Paycom Software, Inc. (NYSE:PAYC) by 39.3% during the third quarter, HoldingsChannel reports. The firm owned 26,433 shares of the software maker’s stock after selling 17,082 shares during the period. Franklin Resources Inc.’s holdings in Paycom Software were worth $4,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PAYC. Armstrong Advisory Group Inc. purchased a new stake in shares of Paycom Software during the third quarter worth $26,000. Brooklyn Investment Group bought a new stake in Paycom Software during the 3rd quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Paycom Software in the second quarter worth $25,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of Paycom Software by 73.3% in the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after purchasing an additional 77 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paycom Software in the second quarter worth $27,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $206.91 on Tuesday. The company has a market cap of $11.93 billion, a PE ratio of 24.90, a P/E/G ratio of 3.12 and a beta of 1.11. The firm’s 50 day moving average price is $211.80 and its 200-day moving average price is $176.60. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Monday, November 25th. Paycom Software’s dividend payout ratio is currently 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 Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the sale, the chief executive officer now owns 2,731,410 shares of the company’s stock, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 40,950 shares of company stock worth $7,440,791. Company insiders own 12.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Mizuho lifted their target price on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. TD Cowen raised their price target on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. BMO Capital Markets boosted 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 report on Thursday, October 31st. Barclays upped their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, 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 report on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $202.56.

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.