UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Holdings in Paycom Software, Inc. (NYSE:PAYC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 15.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,341 shares of the software maker’s stock after selling 43,530 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Paycom Software were worth $41,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PAYC. Private Trust Co. NA grew its stake in Paycom Software by 11.2% during the third quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock valued at $88,000 after acquiring an additional 53 shares in the last quarter. Wrapmanager Inc. lifted its stake in Paycom Software by 2.6% in the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after purchasing an additional 56 shares in the last quarter. Andina Capital Management LLC boosted its holdings in shares of Paycom Software by 4.0% during the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after purchasing an additional 63 shares during the last quarter. Davis Investment Partners LLC grew its position in shares of Paycom Software by 1.0% during the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after purchasing an additional 64 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Paycom Software by 26.7% in the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen increased their price target on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Barclays increased their target price on 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 target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Citigroup increased their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Piper Sandler upped their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $193.67.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $167.31, for a total transaction of $326,254.50. Following the completion of the sale, the chief executive officer now owns 2,935,958 shares in the company, valued at $491,215,132.98. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 52,650 shares of company stock worth $9,414,035 in the last quarter. 12.60% of the stock is owned by company insiders.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $229.88 on Wednesday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $237.33. The firm has a 50-day simple moving average of $194.49 and a two-hundred day simple moving average of $170.20. The company has a market cap of $13.25 billion, a P/E ratio of 27.66, a PEG ratio of 3.09 and a beta of 1.11.

Paycom Software Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio 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.