Apollon Wealth Management LLC Reduces Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Apollon Wealth Management LLC lessened its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 23.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,477 shares of the software maker’s stock after selling 1,646 shares during the period. Apollon Wealth Management LLC’s holdings in Paycom Software were worth $1,123,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PAYC. FMR LLC increased its stake in shares of Paycom Software by 55.0% during the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after buying an additional 357,723 shares during the period. International Assets Investment Management LLC increased its position in Paycom Software by 9,997.5% during the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after purchasing an additional 278,529 shares during the period. Confluence Investment Management LLC raised its holdings in Paycom Software by 147.3% in the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after purchasing an additional 225,081 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Paycom Software in the 4th quarter worth $42,893,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Paycom Software by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock worth $81,030,000 after buying an additional 151,807 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PAYC. TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Mizuho upped their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Citigroup decreased their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. BMO Capital Markets boosted their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Finally, Barclays decreased their price target on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $204.75.

Paycom Software Stock Performance

NYSE:PAYC opened at $204.85 on Tuesday. The firm has a market cap of $11.81 billion, a P/E ratio of 24.65, a P/E/G ratio of 2.81 and a beta of 1.15. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The firm has a 50-day simple moving average of $212.80 and a two-hundred day simple moving average of $190.69.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. Paycom Software’s dividend payout ratio (DPR) is currently 18.05%.

About 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.