Nisa Investment Advisors LLC Increases Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Nisa Investment Advisors LLC raised its position in Paycom Software, Inc. (NYSE:PAYC) by 51.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,666 shares of the software maker’s stock after acquiring an additional 905 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Paycom Software were worth $444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software in the third quarter worth about $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paycom Software in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Paycom Software during the second quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software in the second quarter worth $27,000. Finally, Sentry Investment Management LLC bought a new stake in Paycom Software in the second quarter valued at $33,000. 87.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the transaction, the insider now directly owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $211.76, for a total value of $412,932.00. Following the completion of the transaction, the chief executive officer now owns 2,745,060 shares of the company’s stock, valued at $581,293,905.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,906 shares of company stock worth $11,931,668 in the last quarter. Corporate insiders own 12.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Barclays increased their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. TD Cowen lifted their price objective on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Mizuho increased their target price on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Piper Sandler lifted 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 31st. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Paycom Software currently has an average rating of “Hold” and an average price target of $193.67.

Paycom Software Trading Up 3.3 %

Shares of NYSE:PAYC opened at $218.48 on Wednesday. The stock has a fifty day simple moving average of $169.61 and a two-hundred day simple moving average of $163.43. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $222.30. The stock has a market capitalization of $12.55 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.91 and a beta of 1.14.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend 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.