PNC Financial Services Group Inc. has a $948,000 position in Paycom Software, Inc. (NYSE:PAYC)

PNC Financial Services Group Inc. has acquired its interest in Paycom Software, Inc. (NYSE:PAYC – Free Report) fell 8.3% in the third quarter, according to its most recent 13F filing with the SEC. The company owned 5,691 shares of the software maker, after selling 514 shares during the quarter. The interests of PNC Financial Services Group Inc. in Paycom Software were worth $948,000 at the time of the most recent SEC filing.

A number of other major investors have also been buying and selling shares of PAYC. Nisa Investment Advisors LLC increased its holdings in shares of Paycom Software by 51.4% in the third 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 bought a new stake in Paycom Software in the second quarter valued at approximately $589,000. Sylebra Capital LLC strengthened its position in Paycom Software by 53.9% during the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after acquiring an additional 685,190 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Paycom Software by 1,549.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,662 shares of the software maker’s stock worth $3,098,000 after acquiring an additional 20,349 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Paycom Software shares 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 acquiring an additional 5,574 shares in the last quarter. 87.77% of the shares are held by institutional investors.

Paycom Software Price Performance

Shares of PAYC opened at $234.99 on Friday. The company’s 50-day moving average is $190.93 and its 200-day moving average is $169.19. The company has a market cap of $13.55 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 3.12, and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week 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 of this dividend is Monday, November 25. This represents a dividend of $1.50 annually and a yield of 0.64%. Paycom Software’s dividend payout ratio (DPR) currently stands at 18.05%.

Wall Street analysts predict growth

A number of brokers have recently commented on PAYC. Mizuho raised their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, November 4. Citigroup raised their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen raised their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23. Piper Sandler raised their price target on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and an average price target of $193.67.

Check out our latest analysis on PAYC

Insider transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, September 9th. The shares sold at an average price of $162.00, for a total transaction of $315,900.00. Following the transaction, the CEO now directly owns 2,941,808 shares of the company’s stock, valued at approximately $476,572,896. This transaction represents a 0.07% decrease in their ownership of the shares. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. Insiders sold a total of 54,600 shares of the company worth $9,726,717 during the last quarter. Company insiders own 12.60% of the company’s shares.

Paycom software 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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