Planning Capital Management Corp Cuts Holdings in Paycom Software, Inc. (NYSE:PAYC)

Planning Capital Management Corp lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 53.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 248 shares of the software maker’s stock after selling 289 shares during the period. Planning Capital Management Corp’s holdings in Paycom Software were worth $41,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAYC. Nisa Investment Advisors LLC lifted its stake in shares of Paycom Software by 51.4% in the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock worth $444,000 after buying an additional 905 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Paycom Software by 29.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after acquiring an additional 14,670 shares during the last quarter. Sylebra Capital LLC acquired a new stake in Paycom Software in the 1st quarter valued at approximately $253,196,000. Profund Advisors LLC purchased a new position in shares of Paycom Software during the second quarter worth $589,000. Finally, BOKF NA lifted its stake in Paycom Software by 453.0% during the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock worth $1,828,000 after acquiring an additional 7,552 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $159.79, for a total transaction of $311,590.50. Following the completion of the transaction, the chief executive officer now directly owns 2,969,108 shares in the company, valued at approximately $474,433,767.32. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 60,450 shares of company stock worth $10,672,818. 14.50% of the stock is owned by corporate insiders.

Paycom Software Trading Down 1.4 %

NYSE:PAYC opened at $224.62 on Friday. The firm has a market capitalization of $12.95 billion, a PE ratio of 27.03, a PEG ratio of 3.05 and a beta of 1.14. The firm’s fifty day simple moving average is $177.57 and its 200 day simple moving average is $165.32. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $233.69.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is currently 18.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets increased their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Piper Sandler raised their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen raised their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Jefferies Financial Group raised their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Finally, Barclays lifted their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Twelve 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, the company presently has an average rating of “Hold” and a consensus price target of $193.67.

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.