State of Alaska Department of Revenue Purchases 380 Shares of Paycom Software, Inc. (NYSE:PAYC)

State of Alaska Department of Revenue grew its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 7.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,595 shares of the software maker’s stock after acquiring an additional 380 shares during the period. State of Alaska Department of Revenue’s holdings in Paycom Software were worth $931,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sylebra Capital LLC raised its stake in Paycom Software by 53.9% in the second 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. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Paycom Software by 9.4% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after buying an additional 92,049 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Paycom Software by 14.5% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock worth $124,709,000 after buying an additional 79,299 shares in the last quarter. Federated Hermes Inc. raised its stake in Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after buying an additional 529,591 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Paycom Software by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker’s stock worth $65,122,000 after buying an additional 26,934 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Insider Activity

In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the sale, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the transaction, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Friday, August 9th. The stock was sold at an average price of $158.27, for a total transaction of $308,626.50. Following the completion of the transaction, the chief executive officer now directly owns 2,980,808 shares of the company’s stock, valued at $471,772,482.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,906 shares of company stock worth $11,931,668 in the last three months. Company insiders own 12.60% of the company’s stock.

Paycom Software Trading Up 3.3 %

PAYC opened at $218.48 on Wednesday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $222.30. The company has a market capitalization of $12.55 billion, a PE ratio of 26.29, a PEG ratio of 2.91 and a beta of 1.14. The firm’s 50 day simple moving average is $169.61 and its two-hundred day simple moving average is $163.43.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given 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 dividend yield of 0.69%. Paycom Software’s payout ratio is 18.05%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Citigroup upped their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. BMO Capital Markets upped their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Finally, TD Cowen upped their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software has a consensus rating of “Hold” and an average price target of $193.67.

Paycom Software 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.