Kovitz Investment Group Partners LLC increased its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 17.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,845 shares of the software maker's stock after purchasing an additional 2,342 shares during the period. Kovitz Investment Group Partners LLC's holdings in Paycom Software were worth $2,639,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Paycom Software by 144.6% in the 3rd quarter. Wellington Management Group LLP now owns 16,803 shares of the software maker's stock valued at $2,799,000 after purchasing an additional 9,933 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Paycom Software by 18.5% in the 3rd quarter. Stifel Financial Corp now owns 41,071 shares of the software maker's stock valued at $6,841,000 after purchasing an additional 6,421 shares in the last quarter. QSV Equity Investors LLC bought a new stake in shares of Paycom Software in the 3rd quarter valued at about $317,000. Quantinno Capital Management LP raised its holdings in shares of Paycom Software by 234.0% in the 3rd quarter. Quantinno Capital Management LP now owns 19,120 shares of the software maker's stock valued at $3,185,000 after purchasing an additional 13,396 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Paycom Software in the 3rd quarter valued at about $206,000. 87.77% of the stock is owned by hedge funds and other institutional investors.
Paycom Software Trading Up 0.3 %
NYSE:PAYC traded up $0.72 during trading hours on Tuesday, reaching $235.66. 447,433 shares of the company were exchanged, compared to its average volume of 790,944. The stock's 50-day moving average is $199.80 and its 200-day moving average is $171.75. The firm has a market cap of $13.59 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 3.15 and a beta of 1.11. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $238.57.
Paycom Software Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Monday, November 25th. Paycom Software's dividend payout ratio (DPR) is 18.05%.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. BMO Capital Markets boosted their target price 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 upped their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Jefferies Financial Group upped their price objective 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. Mizuho upped their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Finally, Piper Sandler upped their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Paycom Software presently has an average rating of "Hold" and an average target price of $200.33.
Check Out Our Latest Analysis on Paycom Software
Insider Activity
In related news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $167.31, for a total transaction of $326,254.50. Following the completion of the sale, the chief executive officer now directly owns 2,935,958 shares in the company, valued at approximately $491,215,132.98. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 50,700 shares of company stock worth $9,098,135 over the last three months. Insiders own 12.60% of the company's stock.
Paycom Software Company Profile
(
Free Report)
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.
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