Citigroup Inc. Has $14.12 Million Holdings in Paycom Software, Inc. (NYSE:PAYC)

Citigroup Inc. lessened its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 16.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,780 shares of the software maker’s stock after selling 16,630 shares during the period. Citigroup Inc. owned approximately 0.15% of Paycom Software worth $14,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paycom Software during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Paycom Software during the 2nd quarter worth approximately $26,000. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software during the 3rd quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Paycom Software during the 2nd quarter worth approximately $27,000. Finally, CVA Family Office LLC lifted its holdings in shares of Paycom Software by 234.3% during the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock worth $33,000 after acquiring an additional 164 shares during the period. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Down 0.5 %

PAYC opened at $235.06 on Thursday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $237.33. The company has a fifty day moving average of $189.69 and a 200-day moving average of $168.73. The stock has a market cap of $13.55 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 3.12 and a beta of 1.14.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price objective 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. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Mizuho increased their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, TD Cowen increased their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $193.67.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $162.00, for a total transaction of $315,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,941,808 shares in the company, valued at $476,572,896. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 54,600 shares of company stock worth $9,726,717 over the last three months. 12.60% of the stock is owned by company insiders.

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.