KBC Group NV Boosts Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

KBC Group NV increased its holdings in Paycom Software, Inc. (NYSE:PAYC) by 219.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,733 shares of the software maker’s stock after acquiring an additional 12,877 shares during the period. KBC Group NV’s holdings in Paycom Software were worth $3,120,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Armstrong Advisory Group Inc. bought a new stake in Paycom Software in the third quarter worth about $26,000. Ashton Thomas Private Wealth LLC purchased a new position in Paycom Software in the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software in the second quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software in the second quarter worth $27,000. Finally, Sentry Investment Management LLC purchased a new stake in Paycom Software in the second quarter worth $33,000. Institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen upped their price target on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. 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. Mizuho upped their price target on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Piper Sandler raised their price objective 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. Finally, Barclays boosted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $193.67.

Paycom Software Stock Performance

Paycom Software stock opened at $219.88 on Monday. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $233.69. The stock has a market cap of $12.68 billion, a P/E ratio of 26.46, a PEG ratio of 2.94 and a beta of 1.14. The firm’s fifty day moving average price is $180.24 and its 200-day moving average price is $165.76.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.68%. Paycom Software’s payout ratio is currently 18.05%.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $163.12, for a total transaction of $318,084.00. Following the sale, the chief executive officer now owns 3,534,499 shares in the company, valued at approximately $576,547,476.88. This trade represents a 0.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 58,500 shares of company stock worth $10,361,228. 14.50% of the stock is currently owned by insiders.

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.