MML Investors Services LLC Sells 1,160 Shares of Paycom Software, Inc. (NYSE:PAYC)

MML Investors Services LLC cut its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 22.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,107 shares of the software maker’s stock after selling 1,160 shares during the quarter. MML Investors Services LLC’s holdings in Paycom Software were worth $684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Main Management ETF Advisors LLC bought a new stake in shares of Paycom Software during the 3rd quarter worth $905,000. Orion Portfolio Solutions LLC lifted its stake in Paycom Software by 52.4% during the third quarter. Orion Portfolio Solutions LLC now owns 11,051 shares of the software maker’s stock worth $1,841,000 after purchasing an additional 3,802 shares during the last quarter. iSAM Funds UK Ltd purchased a new position in shares of Paycom Software in the 3rd quarter worth about $295,000. National Bank of Canada FI raised its holdings in shares of Paycom Software by 186.5% during the 3rd quarter. National Bank of Canada FI now owns 70,050 shares of the software maker’s stock valued at $11,668,000 after buying an additional 45,600 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in Paycom Software in the 3rd quarter worth approximately $247,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $170.41, for a total value of $332,299.50. Following the completion of the sale, the chief executive officer now directly owns 2,801,160 shares in the company, valued at $477,345,675.60. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 42,900 shares of company stock worth $7,774,826 over the last quarter. Corporate insiders own 14.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PAYC. Mizuho increased their price target 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 lifted their target price on shares of 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 target on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Finally, Barclays boosted their target price on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $202.56.

Paycom Software Stock Performance

NYSE PAYC opened at $207.23 on Friday. The stock has a market cap of $11.95 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 3.12 and a beta of 1.11. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The stock has a 50 day simple moving average of $210.96 and a two-hundred day simple moving average of $175.94.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software’s payout ratio is 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.