Fisher Asset Management LLC Sells 742 Shares of Paycom Software, Inc. (NYSE:PAYC)

Fisher Asset Management LLC reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 0.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 79,368 shares of the software maker’s stock after selling 742 shares during the period. Fisher Asset Management LLC owned approximately 0.14% of Paycom Software worth $13,220,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its position in Paycom Software by 3.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 18,204 shares of the software maker’s stock worth $3,032,000 after purchasing an additional 611 shares during the period. Summit Trail Advisors LLC purchased a new position in Paycom Software in the 3rd quarter worth $377,000. Kingsview Wealth Management LLC raised its position in Paycom Software by 3.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 2,293 shares of the software maker’s stock worth $382,000 after purchasing an additional 86 shares during the period. Cerity Partners LLC raised its position in Paycom Software by 24.0% in the 3rd quarter. Cerity Partners LLC now owns 10,694 shares of the software maker’s stock worth $1,781,000 after purchasing an additional 2,073 shares during the period. Finally, Raymond James Trust N.A. raised its position in Paycom Software by 9.1% in the 3rd quarter. Raymond James Trust N.A. now owns 2,512 shares of the software maker’s stock worth $418,000 after purchasing an additional 209 shares during the period. 87.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $162.00, for a total transaction of $315,900.00. Following the sale, the chief executive officer now owns 2,941,808 shares of the company’s stock, valued at $476,572,896. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 54,600 shares of company stock valued at $9,726,717 over the last quarter. Corporate insiders own 12.60% of the company’s stock.

Paycom Software Price Performance

NYSE:PAYC opened at $235.06 on Thursday. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $237.33. The company’s 50-day simple moving average is $189.69 and its 200 day simple moving average is $168.73. The firm has a market capitalization of $13.55 billion, a P/E ratio of 28.29, a PEG ratio of 3.12 and a beta of 1.14.

Paycom Software Announces Dividend

The firm also recently disclosed 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. This represents a $1.50 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s payout ratio is currently 18.05%.

Analyst Upgrades and Downgrades

PAYC has been the topic of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. TD Cowen boosted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Barclays boosted their price objective 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. Jefferies Financial Group boosted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, Mizuho boosted their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus price target 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.