Citigroup Inc. Has $14.12 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Citigroup Inc. trimmed its stake in Paycom Software, Inc. (NYSE:PAYC) by 16.4% in the third quarter, HoldingsChannel reports. The firm owned 84,780 shares of the software maker’s stock after selling 16,630 shares during the period. Citigroup Inc.’s holdings in Paycom Software were worth $14,122,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Advisors Asset Management Inc. lifted its stake in shares of Paycom Software by 37.0% in the first quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker’s stock valued at $60,000 after buying an additional 81 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Paycom Software by 2.7% in the first quarter. California State Teachers Retirement System now owns 94,275 shares of the software maker’s stock valued at $18,762,000 after buying an additional 2,493 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Paycom Software by 23.9% in the first quarter. Tidal Investments LLC now owns 9,529 shares of the software maker’s stock valued at $1,893,000 after buying an additional 1,841 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in shares of Paycom Software by 401.2% in the first quarter. iA Global Asset Management Inc. now owns 7,092 shares of the software maker’s stock valued at $1,411,000 after buying an additional 5,677 shares in the last quarter. Finally, Wahed Invest LLC lifted its stake in shares of Paycom Software by 14.5% in the first quarter. Wahed Invest LLC now owns 1,004 shares of the software maker’s stock valued at $200,000 after buying an additional 127 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on PAYC shares. Piper Sandler raised their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays raised their price target on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Citigroup raised their price target on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets raised their price target 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. Finally, Jefferies Financial Group raised their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and a consensus target price of $193.67.

Paycom Software Stock Performance

Shares of PAYC stock opened at $235.06 on Thursday. The firm has a market cap of $13.55 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 3.12 and a beta of 1.14. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $237.33. The firm’s 50-day simple moving average is $189.69 and its two-hundred day simple moving average is $168.73.

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 paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.64%. Paycom Software’s payout ratio is 18.05%.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated 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 transaction, the chief executive officer now owns 2,731,410 shares in the company, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 54,600 shares of company stock worth $9,726,717 over the last quarter. 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.