Raymond James Trust N.A. Has $418,000 Holdings in Paycom Software, Inc. (NYSE:PAYC)

Raymond James Trust N.A. lifted its position in Paycom Software, Inc. (NYSE:PAYC) by 9.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,512 shares of the software maker’s stock after purchasing an additional 209 shares during the quarter. Raymond James Trust N.A.’s holdings in Paycom Software were worth $418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAYC. Sylebra Capital LLC lifted its holdings in shares of Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after acquiring an additional 685,190 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in Paycom Software by 9.4% during 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 purchasing an additional 92,049 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Paycom Software by 1.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock valued at $104,524,000 after purchasing an additional 6,488 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Paycom Software by 1,011.2% in the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after purchasing an additional 529,591 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Paycom Software by 45.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock worth $81,030,000 after buying an additional 151,807 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Performance

Shares of PAYC opened at $236.20 on Wednesday. The business’s fifty day moving average price is $188.41 and its two-hundred day moving average price is $168.26. The firm has a market capitalization of $13.62 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 3.07 and a beta of 1.14. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $236.75.

Paycom Software Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. Paycom Software’s payout ratio is 18.05%.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, September 9th. The shares were sold at an average price of $162.00, for a total transaction of $315,900.00. Following the completion of the sale, the chief executive officer now owns 2,941,808 shares of the company’s stock, valued at approximately $476,572,896. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 54,600 shares of company stock valued at $9,726,717. 14.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several recent analyst reports. TD Cowen boosted their price target on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays increased their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Mizuho boosted their price target on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Citigroup raised 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. Twelve 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, Paycom Software currently has a consensus rating of “Hold” and a consensus price target of $193.67.

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.