Jacobs Levy Equity Management Inc. Lowers Holdings in Paycom Software, Inc. (NYSE:PAYC)

Jacobs Levy Equity Management Inc. lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 11.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,639 shares of the software maker’s stock after selling 28,190 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.39% of Paycom Software worth $37,252,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Private Trust Co. NA raised its stake in Paycom Software by 11.2% during the third quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock worth $88,000 after purchasing an additional 53 shares during the period. Wrapmanager Inc. increased its holdings in shares of Paycom Software by 2.6% during the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after buying an additional 56 shares during the last quarter. Andina Capital Management LLC raised its position in shares of Paycom Software by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after buying an additional 63 shares during the period. Davis Investment Partners LLC boosted its holdings in Paycom Software by 1.0% in the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after acquiring an additional 64 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Paycom Software by 26.7% during the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after acquiring an additional 68 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. BMO Capital Markets raised their price objective on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Piper Sandler increased their target price 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. Jefferies Financial Group lifted 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. Mizuho increased their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, TD Cowen lifted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. 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, the company currently has a consensus rating of “Hold” and a consensus target price of $193.67.

Paycom Software Price Performance

Shares of PAYC stock opened at $229.88 on Wednesday. The company’s fifty day moving average price is $194.49 and its two-hundred day moving average price is $170.20. The firm has a market capitalization of $13.25 billion, a P/E ratio of 27.66, a P/E/G ratio of 3.09 and a beta of 1.11. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $237.33.

Paycom Software Dividend Announcement

The firm also recently declared 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. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $167.31, for a total transaction of $326,254.50. Following the transaction, the chief executive officer now directly owns 2,935,958 shares in the company, valued at $491,215,132.98. This represents a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 52,650 shares of company stock worth $9,414,035 in the last 90 days. 12.60% 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.