Marks Group Wealth Management Inc grew its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 168.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,124 shares of the software maker's stock after purchasing an additional 22,035 shares during the period. Marks Group Wealth Management Inc owned about 0.06% of Paycom Software worth $5,851,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Paycom Software in the second quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Paycom Software during the second quarter worth approximately $26,000. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software during the third quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paycom Software in the second quarter valued at approximately $27,000. Finally, CVA Family Office LLC grew its stake in Paycom Software by 234.3% in the second quarter. CVA Family Office LLC now owns 234 shares of the software maker's stock worth $33,000 after purchasing an additional 164 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.
In related news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the sale, the insider now directly owns 14,769 shares in the company, valued at $2,327,889.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the transaction, the chief financial officer now directly owns 294,849 shares of the company's stock, valued at approximately $45,990,547.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the sale, the insider now directly owns 14,769 shares of the company's stock, valued at $2,327,889.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,906 shares of company stock worth $11,931,668. Insiders own 12.60% of the company's stock.
Shares of PAYC opened at $218.48 on Wednesday. The company has a 50 day moving average of $169.61 and a two-hundred day moving average of $163.43. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $222.30. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 2.91 and a beta of 1.14.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.69%. Paycom Software's dividend payout ratio (DPR) is 18.05%.
A number of brokerages have weighed in on PAYC. Mizuho lifted their target price on Paycom Software from $170.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, August 1st. Barclays increased their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Piper Sandler boosted their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a "hold" rating in a research report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $193.67.
View Our Latest Stock Report on 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.
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