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

Meridian Wealth Management LLC reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 48.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,264 shares of the software maker’s stock after selling 2,091 shares during the period. Meridian Wealth Management LLC’s holdings in Paycom Software were worth $377,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PAYC. Natixis purchased a new stake in shares of Paycom Software in the first quarter valued at about $96,000. Advisors Asset Management Inc. grew its stake in shares of Paycom Software by 37.0% in the 1st 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 during the period. BOKF NA increased its holdings in shares of Paycom Software by 453.0% during the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock worth $1,828,000 after buying an additional 7,552 shares during the last quarter. Mount Yale Investment Advisors LLC raised its position in shares of Paycom Software by 110.8% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 4,381 shares of the software maker’s stock valued at $872,000 after buying an additional 2,303 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Paycom Software by 145.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 268,692 shares of the software maker’s stock valued at $53,472,000 after acquiring an additional 159,435 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on 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. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 56,550 shares of company stock valued at $10,044,801 in the last three months. 14.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of research analyst reports. Barclays lifted their target price on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Citigroup increased their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Finally, Piper Sandler increased their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $193.67.

Paycom Software Stock Up 1.5 %

Paycom Software stock opened at $230.32 on Monday. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $233.69. The firm has a market cap of $13.28 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 3.04 and a beta of 1.14. The company’s 50 day moving average is $185.75 and its two-hundred day moving average is $167.42.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

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.