SpiderRock Advisors LLC Invests $555,000 in Paycom Software, Inc. (NYSE:PAYC)

SpiderRock Advisors LLC acquired a new stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,331 shares of the software maker's stock, valued at approximately $555,000.

A number of other institutional investors also recently added to or reduced their stakes in PAYC. Sylebra Capital LLC grew its holdings in Paycom Software by 53.9% during the second 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 grew its holdings 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 acquiring an additional 92,049 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Paycom Software by 14.5% during 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 acquiring an additional 79,299 shares during the period. Federated Hermes Inc. grew its holdings in Paycom Software by 1,011.2% during the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker's stock worth $83,244,000 after acquiring an additional 529,591 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Paycom Software by 6.3% during 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 acquiring an additional 26,934 shares during the period. Institutional investors own 87.77% of the company's stock.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $159.79, for a total value of $311,590.50. Following the completion of the sale, the chief executive officer now directly owns 2,969,108 shares of the company's stock, valued at $474,433,767.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 60,450 shares of company stock valued at $10,535,480 over the last three months. 14.50% of the stock is owned by insiders.

Analysts Set New Price Targets

PAYC has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective on Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a report on Thursday, October 31st. BMO Capital Markets raised their price objective on Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a report on Thursday, October 31st. TD Cowen raised their price objective on Paycom Software from $171.00 to $188.00 and gave the company a "hold" rating in a report on Monday, September 23rd. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, Piper Sandler lifted their price target on Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $193.67.

Paycom Software Trading Up 0.5 %

Shares of PAYC traded up $1.19 during midday trading on Tuesday, reaching $228.89. 627,316 shares of the company were exchanged, compared to its average volume of 817,081. The stock has a 50-day moving average price of $174.86 and a 200-day moving average price of $164.60. The company has a market cap of $13.20 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 3.06 and a beta of 1.14. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $233.69.

Paycom Software Announces Dividend

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 issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software's dividend payout ratio is currently 18.05%.

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.