Integrated Wealth Concepts LLC purchased a new stake in Paycom Software, Inc. in the third quarter. (NYSE:PAYC – Free Report), the company said in its most recent Form 13F filing with the SEC. The company bought 1,237 shares of the software maker, worth about $206,000.
Several other institutional investors have also changed their ownership of the company. Nisa Investment Advisors LLC grew its holdings in shares of Paycom Software by 51.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock worth $444,000 after purchasing an additional 905 shares during the period. Profund Advisors LLC acquired a new position in Paycom Software during the second quarter valued at approximately $589,000. Sylebra Capital LLC increased its position in shares of Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after purchasing an additional 685,190 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Paycom Software by 1,549.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,662 shares of the software maker’s stock worth $3,098,000 after purchasing an additional 20,349 shares in the last quarter. Finally, Principal Financial Group Inc. its position in Paycom Software shares increased by 9.3% during the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker worth $10,962,000 after purchasing an additional 5,574 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s shares.
Paycom software trading drops 2.3%
PAYC stock opened at $234.50 on Friday. The company has a market cap of $13.52 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 3.20, and a beta of 1.11. The company has a 50-day simple moving average of $204.13 and a 200-day simple moving average of $173.15. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74.
Paycom Software announces dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 9. Well-known investors received a dividend of $0.375 per share on Monday, November 25. This represents a dividend of $1.50 annually and a yield of 0.64%. The ex-dividend date of this dividend was Monday, November 25. Paycom Software’s dividend payout ratio currently stands at 18.05%.
Insiders place their bets
In other Paycom Software news: CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Wednesday, September 18. The stock sold at an average price of $170.19, for a total value of $331,870.50. Following the transaction, the CEO now directly owns 2,810,910 shares of the company’s stock, valued at approximately $478,388,772.90. This trade represents a 0.07% decline in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 48,750 shares of the company’s stock, valued at $8,771,880. Insiders own 14.50% of the company’s shares.
Wall Street analysts weigh in
Several research firms have recently commented on PAYC. Citigroup raised their target price on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31. Barclays raised their price objective on Paycom Software from $172.00 to $181.00 and gave the stock an “equalweight” rating in a research report on Thursday, October 31. Mizuho raised its price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday. TD Cowen raised their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9. Finally, Jefferies Financial Group raised their target price 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. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of ‘Hold’ and an average price target of $202.56.
Check out our latest analysis on PAYC
Paycom Software Company Profile
(Free report)
Paycom Software, Inc offers a cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized businesses in the United States. It provides functionality and data analytics that companies need to manage the employment lifecycle, from hiring to retirement.
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