Portside Wealth Group LLC Sells 126 Shares of Paycom Software, Inc. (NYSE:PAYC)

Portside Wealth Group LLC lessened its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,401 shares of the software maker’s stock after selling 126 shares during the quarter. Portside Wealth Group LLC’s holdings in Paycom Software were worth $2,337,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PAYC. Armstrong Advisory Group Inc. purchased a new stake in shares of Paycom Software during the 3rd quarter valued at $26,000. Brooklyn Investment Group bought a new stake in Paycom Software during the third quarter worth about $28,000. Pin Oak Investment Advisors Inc. lifted its stake in Paycom Software by 73.3% during 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 last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after purchasing an additional 189 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Paycom Software by 277.1% during the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after purchasing an additional 194 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $164.29, for a total value of $320,365.50. Following the transaction, the chief executive officer now directly owns 2,760,660 shares in the company, valued at $453,548,831.40. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders sold 21,450 shares of company stock worth $4,212,449. 12.60% of the stock is owned by corporate insiders.

Paycom Software Price Performance

PAYC opened at $208.51 on Friday. The firm has a market cap of $12.02 billion, a PE ratio of 25.09, a P/E/G ratio of 2.78 and a beta of 1.14. The stock has a 50-day moving average price of $218.99 and a 200-day moving average price of $184.54. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PAYC shares. TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Citigroup reduced their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday. Piper Sandler boosted 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. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Mizuho boosted their target price on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Twelve research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Paycom Software has an average rating of “Hold” and an average price target of $199.75.

Paycom Software 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.