Fmr LLC Acquires 357,723 Shares of Paycom Software, Inc. (NYSE:PAYC)

FMR LLC boosted its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 55.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,007,919 shares of the software maker's stock after acquiring an additional 357,723 shares during the quarter. FMR LLC owned approximately 1.75% of Paycom Software worth $167,889,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. acquired a new stake in shares of Paycom Software in the 3rd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Paycom Software during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in shares of Paycom Software during the 2nd quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Paycom Software in the second quarter valued at $27,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Paycom Software by 821.7% in the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker's stock valued at $35,000 after buying an additional 189 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of research analyst reports. BMO Capital Markets lifted their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a research report on Thursday, October 31st. Citigroup lifted their target price on Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Mizuho lifted their target price on Paycom Software from $170.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. Piper Sandler boosted their price target on Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, TD Cowen boosted their price target on Paycom Software from $171.00 to $188.00 and gave the stock a "hold" rating in a report on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $193.67.

Paycom Software Stock Down 0.7 %

NYSE:PAYC traded down $1.73 during trading hours on Tuesday, hitting $230.68. 182,786 shares of the company traded hands, compared to its average volume of 795,427. The firm's 50-day simple moving average is $193.36 and its 200-day simple moving average is $169.87. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $237.33. The company has a market cap of $13.30 billion, a PE ratio of 27.97, a PEG ratio of 3.09 and a beta of 1.11.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, November 25th. Paycom Software's dividend payout ratio is presently 18.05%.

Insider Activity

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total transaction of $312,682.50. Following the completion of the transaction, the chief executive officer now owns 2,947,658 shares of the company's stock, valued at $472,656,960.30. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 54,600 shares of company stock valued at $9,726,717 in the last ninety days. 12.60% 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.