Prospera Financial Services Inc Purchases Shares of 1,691 Paycom Software, Inc. (NYSE:PAYC)

Prospera Financial Services Inc bought a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 3rd quarter, Holdings Channel reports. The firm bought 1,691 shares of the software maker’s stock, valued at approximately $282,000.

A number of other large investors also recently made changes to their positions in the company. Sylebra Capital LLC raised its holdings in shares of Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after buying an additional 685,190 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after purchasing an additional 529,591 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Paycom Software by 9,997.5% during the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after buying an additional 278,529 shares during the period. Confluence Investment Management LLC grew its holdings in Paycom Software by 147.3% in the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after purchasing an additional 225,081 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Paycom Software by 769.2% in the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock valued at $28,803,000 after buying an additional 178,198 shares during the period. Institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

PAYC has been the topic of several recent research reports. Piper Sandler increased their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays lifted their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, TD Cowen raised their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Paycom Software has a consensus rating of “Hold” and an average price target of $193.67.

Paycom Software Stock Performance

NYSE:PAYC opened at $234.78 on Tuesday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $236.24. The firm has a 50-day moving average price of $185.75 and a two-hundred day moving average price of $167.39. The firm has a market cap of $13.54 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 3.07 and a beta of 1.14.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 0.64%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $160.35, for a total transaction of $312,682.50. Following the completion of the transaction, the chief executive officer now owns 2,947,658 shares in the company, valued at approximately $472,656,960.30. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 54,600 shares of company stock valued at $9,726,717 in the last ninety days. 12.60% of the stock is currently owned by insiders.

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.