HighTower Advisors LLC Purchases 672 Shares of Paycom Software, Inc. (NYSE:PAYC)

HighTower Advisors LLC lifted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,031 shares of the software maker’s stock after purchasing an additional 672 shares during the quarter. HighTower Advisors LLC’s holdings in Paycom Software were worth $2,474,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

PAYC has been the subject of several recent analyst reports. Mizuho lifted their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday. TD Cowen lifted their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Jefferies Financial Group increased their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Piper Sandler boosted 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, BMO Capital Markets increased their target price 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. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Paycom Software has an average rating of “Hold” and an average target price of $202.56.

Paycom Software Price Performance

PAYC stock opened at $234.50 on Friday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The company has a market cap of $13.52 billion, a P/E ratio of 28.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.11. The stock’s fifty day moving average price is $204.13 and its 200-day moving average price is $173.15.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were given a $0.375 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.64%. Paycom Software’s payout ratio is 18.05%.

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 on Wednesday, September 18th. The shares were sold at an average price of $170.19, for a total transaction of $331,870.50. Following the transaction, the chief executive officer now owns 2,810,910 shares in the company, valued at $478,388,772.90. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 48,750 shares of company stock worth $8,771,880 in the last three months. 14.50% of the stock is currently owned by company insiders.

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.