Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC lowered its stake in Paycom Software, Inc. (NYSE:PAYC) by 21.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,801 shares of the software maker’s stock after selling 490 shares during the period. Venturi Wealth Management LLC’s holdings in Paycom Software were worth $300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paycom Software during the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new position in shares of Paycom Software during the second quarter valued at approximately $26,000. Armstrong Advisory Group Inc. acquired a new stake in Paycom Software in the third quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Paycom Software in the 2nd quarter valued at about $27,000. Finally, CVA Family Office LLC boosted its position in shares of Paycom Software by 234.3% during the second quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock worth $33,000 after buying an additional 164 shares during the period. 87.77% of the stock is owned by institutional investors.

Paycom Software Trading Up 0.5 %

Shares of PAYC opened at $228.89 on Wednesday. The business’s 50-day moving average price is $174.86 and its 200 day moving average price is $164.60. The stock has a market capitalization of $13.20 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.06 and a beta of 1.14. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $233.69.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.66%. Paycom Software’s dividend payout ratio is currently 18.05%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PAYC shares. Jefferies Financial Group lifted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. TD Cowen upped their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Citigroup raised their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays upped their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Piper Sandler lifted their price target on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $193.67.

Insider Activity 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 Monday, August 19th. The shares were sold at an average price of $159.79, for a total transaction of $311,590.50. Following the transaction, the chief executive officer now directly owns 2,969,108 shares in the company, valued at approximately $474,433,767.32. The trade was a 0.00 % 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 sold 60,450 shares of company stock worth $10,535,480. 14.50% of the stock is owned by corporate insiders.

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.