Public Sector Pension Investment Board Acquires 400 Shares of Paycom Software, Inc. (NYSE:PAYC)

Public Sector Pension Investment Board increased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 28.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,816 shares of the software maker’s stock after acquiring an additional 400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Paycom Software were worth $302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paycom Software in the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software in the second quarter valued at about $26,000. Armstrong Advisory Group Inc. bought a new position in shares of Paycom Software during the 3rd quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paycom Software during the 2nd quarter worth approximately $27,000. Finally, Brooklyn Investment Group bought a new stake in shares of Paycom Software in the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the transaction, the chief executive officer now owns 2,731,410 shares of the company’s stock, valued at $625,738,716.90. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 50,700 shares of company stock worth $9,098,135 over the last ninety days. 14.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PAYC. TD Cowen increased their price objective on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Barclays lifted their price objective on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. BMO Capital Markets upped their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Citigroup lifted their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $193.67.

Paycom Software Price Performance

NYSE PAYC opened at $236.48 on Monday. The company’s 50 day simple moving average is $198.43 and its two-hundred day simple moving average is $171.33. The stock has a market capitalization of $13.64 billion, a PE ratio of 28.46, a P/E/G ratio of 3.09 and a beta of 1.11. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $238.18.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio is 18.05%.

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.