Paycom Software, Inc. (NYSE:PAYC) Stake Boosted by Holocene Advisors LP

Holocene Advisors LP raised its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 0.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,088 shares of the software maker’s stock after buying an additional 280 shares during the quarter. Holocene Advisors LP owned 0.07% of Paycom Software worth $7,011,000 at the end of the most recent quarter.

Several 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 during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in Paycom Software during the second quarter valued at $26,000. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the third quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software in the 2nd quarter worth about $27,000. Finally, Brooklyn Investment Group acquired a new stake in Paycom Software during the 3rd quarter worth about $28,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $162.00, for a total value of $315,900.00. Following the transaction, the chief executive officer now directly owns 2,941,808 shares of the company’s stock, valued at $476,572,896. The trade was a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 52,650 shares of company stock worth $9,414,035 in the last quarter. 12.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PAYC. Mizuho lifted their target price 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. Barclays boosted their target price on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Piper Sandler raised their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets boosted their price target on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, Citigroup raised their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $193.67.

Paycom Software Stock Down 1.1 %

NYSE:PAYC opened at $229.88 on Wednesday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $237.33. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 3.09 and a beta of 1.11. The company’s 50 day moving average is $194.49 and its 200-day moving average is $170.20.

Paycom Software Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. Paycom Software’s payout ratio is presently 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.