Varma Mutual Pension Insurance Co Sells 49,300 Shares of Paycom Software, Inc. (NYSE:PAYC)

Varma Mutual Pension Insurance Co cut its stake in Paycom Software, Inc. (NYSE:PAYC) by 52.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,700 shares of the software maker’s stock after selling 49,300 shares during the quarter. Varma Mutual Pension Insurance Co owned about 0.08% of Paycom Software worth $6,394,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PAYC. Mather Group LLC. bought a new position in shares of Paycom Software during the first quarter valued at approximately $26,000. MFA Wealth Advisors LLC purchased a new position in shares of Paycom Software in the 2nd quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Paycom Software in the second quarter worth approximately $27,000. Palisade Asset Management LLC purchased a new stake in shares of Paycom Software in the 1st quarter worth $32,000. 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 worth $33,000 after buying an additional 164 shares during the period. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PAYC shares. TD Cowen upped their price target on Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Citigroup decreased their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Barclays boosted their price target on shares of Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $178.33.

Paycom Software Trading Up 5.8 %

Shares of PAYC stock opened at $163.86 on Tuesday. The company’s fifty day simple moving average is $157.27 and its 200-day simple moving average is $168.90. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $287.60. The company has a market cap of $9.41 billion, a PE ratio of 19.96, a P/E/G ratio of 2.19 and a beta of 1.17.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.92%. The ex-dividend date was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Insiders Place Their Bets

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $145.55, for a total value of $283,822.50. Following the completion of the transaction, the chief executive officer now owns 3,058,808 shares of the company’s stock, valued at $445,209,504.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $145.55, for a total transaction of $283,822.50. Following the transaction, the chief executive officer now directly owns 3,058,808 shares in the company, valued at $445,209,504.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the transaction, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. The disclosure for this sale can be found here. Insiders have sold 72,812 shares of company stock worth $11,199,274 in the last quarter. 14.50% of the stock is owned by corporate insiders.

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.