Atria Investments Inc Acquires 4,601 Shares of Paycom Software, Inc. (NYSE:PAYC)

Atria Investments Inc lifted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 36.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,327 shares of the software maker’s stock after purchasing an additional 4,601 shares during the period. Atria Investments Inc’s holdings in Paycom Software were worth $2,886,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Ashton Thomas Private Wealth LLC purchased a new position in Paycom Software in the second quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software in the second quarter valued at approximately $26,000. Armstrong Advisory Group Inc. bought a new position in Paycom Software during the third quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Paycom Software during the second quarter valued at $27,000. Finally, CVA Family Office LLC increased its position in 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 last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Mizuho lifted their target price on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Jefferies Financial Group upped their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Piper Sandler lifted their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, TD Cowen increased their target price on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $193.67.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $159.79, for a total transaction of $311,590.50. Following the sale, the chief executive officer now owns 2,969,108 shares in the company, valued at approximately $474,433,767.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 58,500 shares of company stock worth $10,226,093 over the last three months. 14.50% of the stock is owned by insiders.

Paycom Software Stock Down 0.5 %

Paycom Software stock opened at $227.80 on Thursday. The business has a 50-day simple moving average of $176.21 and a 200 day simple moving average of $164.88. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $233.69. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 3.06 and a beta of 1.14.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

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.