Axxcess Wealth Management LLC Invests $208,000 in Paycom Software, Inc. (NYSE:PAYC)

Axxcess Wealth Management LLC bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,247 shares of the software maker’s stock, valued at approximately $208,000.

Other large investors also recently modified their holdings of the company. Covestor Ltd lifted its holdings in Paycom Software by 35.2% in the third quarter. Covestor Ltd now owns 1,144 shares of the software maker’s stock valued at $190,000 after buying an additional 298 shares during the period. Atria Investments Inc lifted its holdings in Paycom Software by 36.2% in the third quarter. Atria Investments Inc now owns 17,327 shares of the software maker’s stock valued at $2,886,000 after buying an additional 4,601 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Paycom Software by 90.1% in the third quarter. Verdence Capital Advisors LLC now owns 7,414 shares of the software maker’s stock valued at $1,235,000 after buying an additional 3,514 shares during the period. SpiderRock Advisors LLC acquired a new position in Paycom Software in the third quarter valued at approximately $555,000. Finally, CWA Asset Management Group LLC acquired a new position in Paycom Software in the third quarter valued at approximately $219,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAYC has been the topic of several analyst reports. TD Cowen increased their target price 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. Jefferies Financial Group increased their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Piper Sandler increased their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Mizuho increased their target price on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Citigroup increased their target price 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. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $193.67.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction 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 approximately $625,738,716.90. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 60,450 shares of company stock valued at $10,672,818. Corporate insiders own 14.50% of the company’s stock.

Paycom Software Stock Down 1.4 %

Shares of PAYC stock opened at $224.62 on Friday. The firm has a fifty day moving average of $177.57 and a 200-day moving average of $165.32. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $233.69. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 3.06 and a beta of 1.14.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is currently 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.