Centiva Capital LP decreased its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 94.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,259 shares of the software maker's stock after selling 20,140 shares during the period. Centiva Capital LP's holdings in Paycom Software were worth $210,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in PAYC. Ashton Thomas Private Wealth LLC purchased a new position in Paycom Software in the second quarter worth about $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Paycom Software during the second quarter worth $26,000. Armstrong Advisory Group Inc. purchased a new position in Paycom Software in the 3rd quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Paycom Software in the 2nd quarter worth about $27,000. Finally, Brooklyn Investment Group bought a new position in Paycom Software in the third quarter worth approximately $28,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE PAYC opened at $240.00 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The stock has a market capitalization of $13.84 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 3.15 and a beta of 1.11. The firm has a 50-day simple moving average of $204.13 and a 200-day simple moving average of $173.15.
The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders 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 0.63%. Paycom Software's payout ratio is 18.05%.
PAYC has been the subject of a number of research reports. Jefferies Financial Group upped their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. Citigroup raised their price target on shares of Paycom Software from $172.00 to $196.00 and gave the company a "neutral" 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 company a "neutral" rating in a research report on Thursday, October 31st. BMO Capital Markets boosted their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a research report on Thursday, October 31st. Finally, TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a research report on Monday. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $200.33.
View Our Latest Stock Analysis on PAYC
In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $170.19, for a total transaction of $331,870.50. Following the transaction, the chief executive officer now owns 2,810,910 shares of the company's stock, valued at approximately $478,388,772.90. This represents a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 48,750 shares of company stock worth $8,771,880. Insiders own 14.50% of the company's stock.
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.
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