Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 181.1% in the third quarter, Holdings Channel reports. The fund owned 4,733 shares of the software maker’s stock after purchasing an additional 3,049 shares during the period. Intech Investment Management LLC’s holdings in Paycom Software were worth $788,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. increased its stake in Paycom Software by 37.0% in the 1st quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker’s stock valued at $60,000 after buying an additional 81 shares during the period. Tidal Investments LLC increased its stake in shares of Paycom Software by 23.9% during the first quarter. Tidal Investments LLC now owns 9,529 shares of the software maker’s stock worth $1,893,000 after acquiring an additional 1,841 shares during the period. Swedbank AB purchased a new position in Paycom Software during the first quarter worth about $16,386,000. Atria Investments Inc purchased a new position in Paycom Software during the first quarter worth about $2,142,000. Finally, Cetera Investment Advisers lifted its position in Paycom Software by 490.0% in the first quarter. Cetera Investment Advisers now owns 18,042 shares of the software maker’s stock valued at $3,591,000 after purchasing an additional 14,984 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Trading Down 1.2 %

NYSE:PAYC opened at $232.07 on Friday. The company has a market capitalization of $13.38 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 3.13 and a beta of 1.14. The firm has a 50-day moving average price of $192.17 and a two-hundred day moving average price of $169.59. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $237.33.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.65%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction 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 sale, the chief executive officer now owns 2,941,808 shares in the company, valued at approximately $476,572,896. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 54,600 shares of company stock worth $9,726,717 in the last ninety days. Insiders own 14.50% of the company’s stock.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of analyst reports. Mizuho increased their target price on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Barclays increased their price objective on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Piper Sandler raised their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. BMO Capital Markets upped 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 note on Thursday, October 31st. Finally, Jefferies Financial Group raised their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $193.67.

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.