Paycom Software, Inc. (NYSE:PAYC) shares purchased by Intech Investment Management LLC

Intech Investment Management LLC has sold its interest in the shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) increased 181.1% in the third quarter, Holdings Channel reports. The fund owned 4,733 shares of the software maker, after purchasing an additional 3,049 shares during the period. Intech Investment Management LLC’s stake in Paycom Software was worth $788,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently changed their holdings in the company. Advisors Asset Management Inc. increased its stake in Paycom Software by 37.0% in the first quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker worth $60,000, after purchasing an additional 81 shares during the period. Tidal Investments LLC increased its stake in shares of Paycom Software by 23.9% during the first quarter. Tidal Investments LLC now owns 9,529 shares of the software maker’s stock worth $1,893,000 after acquiring an additional 1,841 shares during the period. Swedbank AB bought a new position in Paycom Software during the first quarter worth approximately $16,386,000. Atria Investments Inc bought a new position in Paycom Software during the first quarter valued at approximately $2,142,000. Finally, Cetera Investment Advisers increased its position in Paycom Software by 490.0% in the first quarter. Cetera Investment Advisers now owns 18,042 shares of the software maker’s stock worth $3,591,000 after purchasing an additional 14,984 shares during the period. 87.77% of the shares are currently owned by hedge funds and other institutional investors.

Paycom software trading drops 1.2%

NYSE:PAYC opened at $232.07 on Friday. The company has a market cap of $13.38 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 3.13, and a beta of 1.14. The company has a 50-day moving average of $192.17 and a two-hundred-day moving average of $169.59. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $237.33.

Dividend announcement from Paycom Software

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9. Shareholders of record on Monday, November 25 will receive a dividend of $0.375 per share. The ex-dividend date is Monday, November 25. This represents a dividend of $1.50 annually and a dividend yield of 0.65%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Buying and selling with insider information

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, September 9. The shares sold at an average price of $162.00, for a total transaction of $315,900.00. Following the sale, the CEO now owns 2,941,808 shares in the company, valued at approximately $476,572,896. This means a decrease in their position of 0.07%. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 54,600 shares of the company worth $9,726,717 in the last ninety days. Insiders own 14.50% of the company’s shares.

Analyst upgrades and downgrades

PAYC has been the subject of a number of analyst reports. Mizuho raised their price target on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, November 4. 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. Piper Sandler raised their price target on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31. BMO Capital Markets raised their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group raised 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. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price of $193.67.

Check out our latest stock analysis on Paycom Software

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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Would you like to see which other hedge funds own PAYC? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Paycom Software, Inc. (NYSE:PAYC – Free Report).

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