Phillips Wealth Planners LLC Invests $235,000 in Paycom Software, Inc. (NYSE:PAYC)

Phillips Wealth Planners LLC bought a new position in Paycom Software, Inc. (NYSE:PAYC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,164 shares of the software maker’s stock, valued at approximately $235,000.

A number of other hedge funds have also bought and sold shares of PAYC. Armstrong Advisory Group Inc. purchased a new position in Paycom Software in the 3rd quarter worth about $26,000. Brooklyn Investment Group purchased a new position in Paycom Software in the 3rd quarter worth about $28,000. Pin Oak Investment Advisors Inc. raised its position in Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after buying an additional 77 shares during the last quarter. First Horizon Advisors Inc. raised its position in Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after buying an additional 189 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Paycom Software by 277.1% in the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock worth $44,000 after buying an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $167.37, for a total transaction of $326,371.50. Following the completion of the transaction, the chief executive officer now owns 2,754,810 shares in the company, valued at approximately $461,072,549.70. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 17,550 shares of company stock worth $3,562,202. 14.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PAYC shares. BMO Capital Markets boosted their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. TD Cowen upped their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Barclays upped their price target on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Mizuho upped their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Citigroup reduced their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Twelve investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $199.75.

Paycom Software Trading Down 0.7 %

Shares of NYSE:PAYC opened at $207.70 on Thursday. The stock has a 50 day moving average of $218.21 and a 200 day moving average of $185.77. The company has a market cap of $11.98 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 2.87 and a beta of 1.14. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were paid a dividend of $0.375 per share. The ex-dividend date was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

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.