The Manufacturers Life Insurance Company Reduces Holdings in Paycom Software, Inc. (NYSE:PAYC)

The Manufacturers Life Insurance Company lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,506 shares of the software maker’s stock after selling 65 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Paycom Software were worth $6,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Private Trust Co. NA boosted its position in Paycom Software by 11.2% during the 3rd quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock valued at $88,000 after acquiring an additional 53 shares in the last quarter. Wrapmanager Inc. raised its position in shares of Paycom Software by 2.6% in the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after acquiring an additional 56 shares in the last quarter. Andina Capital Management LLC raised its position in shares of Paycom Software by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after acquiring an additional 63 shares in the last quarter. Davis Investment Partners LLC lifted its stake in shares of Paycom Software by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after purchasing an additional 64 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Paycom Software by 26.7% during the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $231.93 on Friday. The company has a market cap of $13.37 billion, a PE ratio of 27.91, a P/E/G ratio of 3.06 and a beta of 1.11. The firm’s 50 day moving average price is $197.05 and its 200-day moving average price is $171.06. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $237.33.

Paycom Software Announces Dividend

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

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $162.00, for a total transaction of $315,900.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 52,650 shares of company stock worth $9,414,035. Insiders own 14.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets increased their price objective on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Mizuho increased their price target on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Jefferies Financial Group boosted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Barclays upped their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Piper Sandler lifted their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and a consensus price target 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.