Crestwood Advisors Group LLC Grows Holdings in Paycom Software, Inc. (NYSE:PAYC)

Crestwood Advisors Group LLC increased its position in Paycom Software, Inc. (NYSE:PAYC) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,923 shares of the software maker’s stock after acquiring an additional 134 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Paycom Software were worth $418,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its holdings in Paycom Software by 81.4% in the 2nd quarter. Natixis Advisors LLC now owns 57,300 shares of the software maker’s stock worth $8,196,000 after acquiring an additional 25,712 shares in the last quarter. Equitable Trust Co. increased its holdings in Paycom Software by 40.9% in the 2nd quarter. Equitable Trust Co. now owns 3,966 shares of the software maker’s stock worth $567,000 after acquiring an additional 1,152 shares in the last quarter. Barlow Wealth Partners Inc. grew its holdings in Paycom Software by 153.1% during the 2nd quarter. Barlow Wealth Partners Inc. now owns 92,414 shares of the software maker’s stock valued at $14,655,000 after buying an additional 55,907 shares in the last quarter. Van ECK Associates Corp grew its holdings in Paycom Software by 4.2% during the 2nd quarter. Van ECK Associates Corp now owns 9,415 shares of the software maker’s stock valued at $1,347,000 after buying an additional 380 shares in the last quarter. Finally, Lafayette Investments Inc. purchased a new stake in Paycom Software during the 2nd quarter valued at approximately $3,485,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Amy Vickroy sold 1,381 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total value of $198,021.59. Following the completion of the sale, the executive vice president now directly owns 19,962 shares in the company, valued at $2,862,351.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Amy Vickroy sold 1,381 shares of Paycom Software stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the sale, the executive vice president now directly owns 19,962 shares in the company, valued at $2,862,351.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $163.12, for a total value of $318,084.00. Following the sale, the chief executive officer now owns 3,534,499 shares of the company’s stock, valued at $576,547,476.88. The disclosure for this sale can be found here. Insiders sold a total of 76,143 shares of company stock worth $11,649,509 over the last three months. 14.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PAYC. Jefferies Financial Group cut their price objective on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. Barclays increased their price objective on shares of Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. TD Cowen increased their price objective on shares of Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Citigroup cut their price objective on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Seventeen equities 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, the stock currently has an average rating of “Hold” and a consensus target price of $178.33.

Paycom Software Stock Down 0.9 %

Shares of PAYC opened at $161.29 on Wednesday. The company has a market cap of $9.37 billion, a PE ratio of 19.65, a P/E/G ratio of 2.30 and a beta of 1.16. The business has a fifty day moving average of $155.93 and a 200 day moving average of $169.67. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $295.42.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be given a $0.375 dividend. The ex-dividend date is Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a yield of 0.93%. Paycom Software’s dividend payout ratio is presently 18.27%.

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.