Geode Capital Management LLC Acquires 45,404 Shares of Paycom Software, Inc. (NYSE:PAYC)

Geode Capital Management LLC raised its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,426,920 shares of the software maker's stock after purchasing an additional 45,404 shares during the quarter. Geode Capital Management LLC owned 2.47% of Paycom Software worth $237,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in Paycom Software by 51.4% during the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker's stock worth $444,000 after buying an additional 905 shares during the last quarter. Profund Advisors LLC bought a new stake in Paycom Software in the 2nd quarter valued at about $589,000. Sylebra Capital LLC raised its stake in Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker's stock valued at $279,996,000 after acquiring an additional 685,190 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Paycom Software by 1,549.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,662 shares of the software maker's stock worth $3,098,000 after buying an additional 20,349 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Paycom Software by 9.3% during the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock valued at $10,962,000 after buying an additional 5,574 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Trading Down 2.3 %

Shares of NYSE PAYC traded down $5.50 during mid-day trading on Friday, reaching $234.50. The company had a trading volume of 459,919 shares, compared to its average volume of 788,223. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The business's 50-day moving average is $205.46 and its 200-day moving average is $173.64. The stock has a market cap of $13.52 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.11.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software's dividend payout ratio (DPR) is presently 18.05%.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction on Wednesday, September 18th. The stock was 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 approximately $478,388,772.90. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 48,750 shares of company stock valued at $8,771,880. Corporate insiders own 14.50% of the company's stock.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several recent analyst reports. Piper Sandler raised their target price 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. Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a report on Thursday, October 31st. TD Cowen raised their price target on Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a report on Monday, December 9th. Mizuho boosted their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Barclays raised their price objective on Paycom Software from $172.00 to $181.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $202.56.

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.