Riverstone Advisors LLC Sells 3,406 Shares of Paycom Software, Inc. (NYSE:PAYC)

Riverstone Advisors LLC lessened its holdings in Paycom Software, Inc. (NYSE:PAYC) by 23.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,853 shares of the software maker’s stock after selling 3,406 shares during the period. Paycom Software accounts for approximately 1.1% of Riverstone Advisors LLC’s portfolio, making the stock its 17th largest position. Riverstone Advisors LLC’s holdings in Paycom Software were worth $1,808,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PAYC. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new stake in Paycom Software in the second quarter worth $26,000. Armstrong Advisory Group Inc. purchased a new position in Paycom Software during the third quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Paycom Software during the second quarter valued at $27,000. Finally, CVA Family Office LLC raised its stake in shares of Paycom Software by 234.3% in the second quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock valued at $33,000 after acquiring an additional 164 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of recent analyst reports. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Citigroup boosted their target price on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Jefferies Financial Group raised their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Mizuho upped their price objective on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $193.67.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $155.63, for a total transaction of $303,478.50. Following the transaction, the chief executive officer now directly owns 2,978,858 shares in the company, valued at approximately $463,599,670.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.63, for a total transaction of $303,478.50. Following the completion of the sale, the chief executive officer now directly owns 2,978,858 shares in the company, valued at $463,599,670.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction dated Monday, August 12th. The shares were 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 $45,990,547.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,382 shares of company stock worth $11,805,199 in the last three months. Corporate insiders own 14.50% of the company’s stock.

Paycom Software Stock Up 0.7 %

Shares of NYSE PAYC opened at $228.75 on Friday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $233.69. The firm has a market cap of $13.19 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 3.09 and a beta of 1.14. The business has a fifty day simple moving average of $173.56 and a two-hundred day simple moving average of $164.47.

Paycom Software Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. Paycom Software’s payout ratio is currently 18.05%.

Paycom Software Company 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.