GAMMA Investing LLC Has $120,000 Position in Paycom Software, Inc. (NYSE:PAYC)

GAMMA Investing LLC raised its position in Paycom Software, Inc. (NYSE:PAYC) by 81.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 585 shares of the software maker’s stock after buying an additional 262 shares during the quarter. GAMMA Investing LLC’s holdings in Paycom Software were worth $120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paycom Software in the second quarter valued at about $25,000. Armstrong Advisory Group Inc. bought a new stake in Paycom Software in the 3rd quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in shares of Paycom Software during the 3rd quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. grew its position in shares of Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after purchasing an additional 77 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new position in shares of Paycom Software during the second quarter worth approximately $33,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler increased their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Mizuho increased their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. BMO Capital Markets boosted their price target on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Citigroup increased their price objective 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, StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Paycom Software presently has a consensus rating of “Hold” and an average target price of $202.56.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $163.77, for a total transaction of $319,351.50. Following the sale, the chief executive officer now directly owns 2,774,310 shares of the company’s stock, valued at approximately $454,348,748.70. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 27,300 shares of company stock worth $5,172,921 over the last quarter. Corporate insiders own 12.60% of the company’s stock.

Paycom Software Trading Down 1.2 %

PAYC stock opened at $199.58 on Friday. The firm has a 50-day moving average price of $220.99 and a 200-day moving average price of $181.66. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The stock has a market capitalization of $11.51 billion, a P/E ratio of 24.02, a price-to-earnings-growth ratio of 3.12 and a beta of 1.14.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

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.