First Horizon Advisors Inc. Increases Stock Position in Paycom Software, Inc. (NYSE:PAYC)

First Horizon Advisors Inc. boosted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 821.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212 shares of the software maker’s stock after purchasing an additional 189 shares during the period. First Horizon Advisors Inc.’s holdings in Paycom Software were worth $35,000 at the end of the most recent reporting period.

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

Paycom Software Price Performance

NYSE:PAYC opened at $234.78 on Tuesday. The firm has a market capitalization of $13.54 billion, a P/E ratio of 28.25, a P/E/G ratio of 3.07 and a beta of 1.14. The business has a 50 day simple moving average of $185.75 and a 200 day simple moving average of $167.39. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $236.24.

Paycom Software Announces Dividend

The company 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 dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.64%. Paycom Software’s dividend payout ratio is currently 18.05%.

Insider Buying and Selling

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $162.00, for a total transaction of $315,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,941,808 shares in the company, valued at approximately $476,572,896. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 54,600 shares of company stock valued at $9,726,717 in the last quarter. Company insiders own 12.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PAYC shares. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. TD Cowen boosted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. BMO Capital Markets increased their price target on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Mizuho boosted their price objective on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group increased their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus target price of $193.67.

About Paycom Software

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.