Keudell Morrison Wealth Management Acquires 227 Shares of Paycom Software, Inc. (NYSE:PAYC)

Keudell Morrison Wealth Management grew its holdings in Paycom Software, Inc. (NYSE:PAYC) by 13.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,939 shares of the software maker’s stock after purchasing an additional 227 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Paycom Software were worth $323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norden Group LLC grew its holdings in shares of Paycom Software by 13.6% during the 1st quarter. Norden Group LLC now owns 3,220 shares of the software maker’s stock valued at $641,000 after purchasing an additional 385 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Paycom Software by 10.9% during the first quarter. Private Advisor Group LLC now owns 2,796 shares of the software maker’s stock worth $556,000 after buying an additional 274 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its stake in shares of Paycom Software by 1.2% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 28,055 shares of the software maker’s stock valued at $5,583,000 after acquiring an additional 338 shares during the last quarter. Empirical Finance LLC grew its position in Paycom Software by 3.9% during the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after acquiring an additional 60 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in Paycom Software by 27.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 48,158 shares of the software maker’s stock worth $9,584,000 after purchasing an additional 10,311 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of PAYC stock traded down $2.52 during mid-day trading on Thursday, hitting $228.57. The company’s stock had a trading volume of 68,306 shares, compared to its average volume of 818,639. The company has a market cap of $13.18 billion, a PE ratio of 27.81, a P/E/G ratio of 2.92 and a beta of 1.14. The company’s fifty day simple moving average is $170.97 and its 200-day simple moving average is $163.91. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $233.69.

Paycom Software Announces Dividend

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

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $158.27, for a total transaction of $308,626.50. Following the completion of the sale, the chief executive officer now owns 2,980,808 shares of the company’s stock, valued at $471,772,482.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $158.27, for a total value of $308,626.50. Following the completion of the sale, the chief executive officer now directly owns 2,980,808 shares of the company’s stock, valued at $471,772,482.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 294,849 shares in the company, valued at approximately $45,990,547.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,332 shares of company stock valued at $12,113,825. 12.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PAYC shares. BMO Capital Markets upped their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Mizuho upped their price target on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday. TD Cowen lifted their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Citigroup raised their target price on Paycom Software from $172.00 to $196.00 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.com, the stock has a consensus rating of “Hold” and an average target price of $193.67.

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.